Jake owns Corvus Inc., a CCPC incorporated in Ontario in 2010. In 2019 jake withdrew a salary of $65,000 less $2,600 in CPP, borrowed $10,000, paid "other-than elligible dividends" of $10,000 and a captial dividend of $12,000 to himself. Jake also paid himself a fixed vehicle allowance of $400 per month for using his personal vehicle in 2019.

What is Jake's total income from Corvus Inc. for 2019?

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Part 1

A.

$76,500

B.

$93,300

C.

$85,900

D.

$81,300