Ms. Barbara Balanced is a Chartered Professional Accountant, who started her own business on June 1, 2018. She operates this practice out of her personal residence in Kingston, Ontario and also has an office located in Brockville, Ontario. This business is HST registered. Details of revenue and expenses for the period ended December 31, 2018 (214 days) are as follows: (a) Fees billed for services rendered in 2018 $ 120,000.00 (b) Barbara estimates that of the total fees billed (above), one-half of 1% represents bad debts. (c) Barbara employs her daughter as a junior accounting technician and paid her a salary of $80,000 for 2018. The market value of the services provided by her daughter during 2018 is estimated to be $45,000. (d) Barbara requires her daughter to provide and use her own vehicle for business purposes and therefore agreed to pay her a vehicle allowance. During 2018, Barbara paid her daughter an allowance of $. 58 per kilometer driven for business purposes and did not include this amount on her daughter's T4. Her daughter drove a total of 25,000 kilometers for business purposes. (e) The cost of office supplies used in 2018 totalled $3,800. (f) Membership fees paid to the Chartered Professional Accountants Association of Ontario were $690 for 2018. (g) Barbara attended three CGA conventions during 2018. The costs of these conventions were as follows: Convention #1 (3 day convention - cost includes meals) $600.00 Convention #2 (total cost includes $100 for meals) $500.00 Convention #3 (1 day convention - cost includes meals) $200.00 (h) Barbara paid $450 for a membership to a fitness club. (i) Rent paid for the Brockville office was $12,000.(j) Charitable donations paid from the bank account of the business totalled $1,800.00 for 2018. (k) Barbara's office in her Kingston home occupies 400 square feet of the total 2000 square feet of the house. The total house expenses for all of 2018 were as follows: Mortgage interest $ 5,500.00 Mortgage principal 3,000.00 Property taxes 2,400.00 Insurance 650.00 Heat and utilities 2,880.00 (l) On June 2, 2018, Barbara purchased 2 computers, each at a cost of $3,500.00. One computer is kept in the Brockville office and is used 100% for business purposes. The other computer is kept at Barbara's home in Kingston and is used 80% for business purposes. (m) The cost of computer applications software purchased in 2018 and used 100% for business use, was $1,600. (n) On June 1, 2018, Barbara purchased a new vehicle at a cost of $48,000 including HST. Based on kilometers driven, the vehicle was used 75% for business purposes and Barbara expects that this percentage will vary from year to year. (o) Interest paid on the loan to purchase the vehicle referred to in (n) above was $3,750. (p) The total operating costs incurred for the vehicle from June 1 to December 31, 2018 were $3,800. (q) The cost of office furniture and equipment purchased on June 1, 2018 was $8,500. (r) The office in Brockville is rented under the terms of an annual lease, which is renewable each year. Barbara signed the lease on June 1, 2018. The cost of leasehold improvements in 2018 was $2,800.Required: (a) Using proper format, Prepare a Statement of Income for income tax purposes for the period ended December 31, 2018 to be filed by Barbara Balanced with her 2018 personal income tax return. (b) Complete the CCA schedule to accompany the statement of income. CCA classes and rates: Class 8 20% Class 13 Straight-line Class 10 and 10.1 30% Class 50 55% Class 12 100%