Mr. Leffers had an unincorporated business with a December 31 year end. During 2019, its first year of operation, the business had net business income of $16,000 and a taxable capital gain of $3,000. The following amount relate to the year ending December 31, 2020:

Business loss; $(52,000)

Capital gains $1,200

Capital losses: $(6,500)

Mr. Leffers has no other source of income or deductions earlier in the year.

Assume that Mr. Leffrrs wishes to minimize his very capital and non capital loss carry over at the end of 2020, without regard to his ability to claim good tax credits for the preceding year 2019. Calculate his net income for tax purposes and taxable income for 2019 and 2020 and any amended amounts for 2019. Indicate the amount and type of any losses available for carry forward at the end of 2020.