Muir Properties has determined that its 2023 accounting income is $840,000. Muir had acquired equipment in the prior year at a cost of $480,000. The equipment is being depreciated over 8 years for financial reporting purposes and is a Class 8 20% for tax purposes with half in the year of acquisition for tax CCA. Depreciation was $60,000 in the prior year. 2022. Muir had a deferred tax asset on its statement of financial position in the amount of $3,600 resulting from differences in depreciation and CCA on equipment. The tax rate is 25% for all years. Vintage follows IFRS.

During 2023, the following items caused taxable income to be different than accounting income:

For tax purposes, CCA was $86,400 in 2023. The year-end book value is $360,000 and the tax value is $345,600.

In 2023, dividends of $36,000 were received from a taxable Canadian corporation and included in accounting income. These dividends are not taxable.

In 2023, a golf club membership of $7,700 was an expense in arriving at accounting income. This is not an allowable deduction for tax purposes.

In 2023, Muir Inc. offered a warranty on goods sold. Warranty expenses for 2023 were $26,400 and warranty cash payments in 2023 were $9,600. The balance of the warranty liability on the statement of financial position is $16,800. The Canada Revenue Agency (CRA) allows the deduction of actual warranty costs when they are paid.

Required:

Calculate taxable income for 2023. (Show permanent and reversing differences)

PLEASE ONLY RESPOND IF YOU ACTUALLY KNOW HOW TO DO IT PLEASE... (Canada Income Tax Question)