Jack McCarthy operates a legal advising business, McCarthy Enterprises, as a sole proprietorship. During the current year, the business had the following income and expenses from operations: $105,000 Advising fees 20.000 Travel expenses 6,000 Meals with clients 7,000 Advertising 3,000 Office expenses 1,000 Utilities Dividend income 5.000 2,000 Interest income Speeding tickets 500 Charitable contribution 1,000 Requirements a) Determine the net income from the business (3 marks) b) Indicate on which application form (schedule) would the business income be shown? (3 marks) c) Prepare and fill the relevant form (schedule) with the information given. All forms and schedules are on G drive (3 marks) d) How are items not included in the Profit or Loss from Business form (schedule) reported? Name the schedules for each (2 marks) e Jack McCarthy uses a room of his home as a business office. The room represents 10% of the home's square footage. This year, John incurred the following expenses in connection with his home: Home mortgage interest $12,980 Property tax on residence 2,200 Homeowner's insurance 1,475 Utilities 2,100 Furnace repairs 300