Morton Forms is a proprietorship owned by Viola Morton. For the taxation year endedDecember 31, 2015, Ms. Mortons daughter, Linda, who works in the business, hascalculated a Net Income for Morton Forms of $193,200. In calculating this figure, Lindaused generally accepted accounting principles.Other Information:1. During the year, Morton Forms spent $18,900 for landscaping the grounds aroundits Vancouver office. In accordance with generally accepted accounting principles,this amount was treated as a capital expenditure. As the work was done late in theyear, no amortization was deducted for the current year.2. The following items were included in the accounting expenses:Amortization expense $69,300Cost of sponsoring local baseball teams 7,200Reserve for inventory obsolescence 15,000Advertising on a foreign television station(Directed at Canadian market) 9,600Advertising circulars (Only one-quarter distributed) 12,400Business meals and entertainment 22,000Charitable donations 31,900Loss from theft 16,200Interest paid on building mortgage 24,200Appraisal costs on land to be sold 4,200Legal fees for banking financing $5,600Legal fees to buy shares of another company $3,000Damages resulting from breach of contract 3,8003. Also included in the accounting expenses were $4,000 in fees paid to Lindas 16year old son for creating and maintaining the web site of Morton Forms. In pricingthis work, Viola found that it would cost at least $8,000 to obtain the equivalentservices from an outside consultant.4. Maximum CCA has been determined to be $94,200 for the taxation year endedDecember 31, 2015.5. As the business is unincorporated, no taxes were deducted in calculating NetIncome.Required:Calculate the minimum net business income for Morton Forms that will beincluded in Viola Mortons tax return for the year ending December 31, 2015. Indicatewhy you have not included any of the preceding items in your calculations.