James' Scent Shoppe is the name of a sole proprietorship that carries on a retail business. The business has a December $31$ fiscal period and began in $2024.$ In its first fiscal period business, sales totalled $$161,000$ of which $$108,000$ was received in cash and $$54,000$ on account. Of the cash sales, $$9,000$ represents advance payments for goods that will only be delivered in $2025.$ On December $31,2024,$$$21,000$ of the accounts receivable are outstanding. James identifies $$1,600$ of the accounts receivables as doubtful of collection. Indicate the $2024$ business income on the assumption that maximum income tax reserves are claimed.

Complete the table to calculate the $2024$ business income.

Cash Sales$-$ITA $9$

Accounts Receivable$-$ITA $12(1)($b$)$

Reserve for undelivered goods$-$ITA $20(1)($m$)$

Reserve for doubtful debts$-$ITA $20(1)($I$)$

Total Increase in $2024$ business income

James' Scent Shoppe is the name of a sole proprietorship that carries on a retail business. The business has a December $31$ fiscal period and began in $2024.$ In its first fiscal period business, sales totalled $$161,000$ of which $$108,000$ was received in cash and $$54,000$ on account. Of the cash sales, $$9,000$ represents advance payments for goods that will only be delivered in $2025.$ On December $31,2024,$$$21,000$ of the accounts receivable are outstanding. James identifies $$1,600$ of the accounts receivables as doubtful of collection. Indicate the $2024$ business income on the assumption that maximum income tax reserves are claimed.

Complete the table to calculate the $2024$ business income.

Cash Sales$$ITA $9$

Accounts Receivable$-$ITA $12(1)($b$)$

Reserve for undelivered goods$-$ITA $20(1)($m$)$

Reserve for doubtful debts$-$ITA $20(1)($I$)$

Total Increase in $2024$ business income