On January 2, 2020, Ms. Shirley Kantor moves from London, Ontario, to Thunder Bay, Ontario, in order to begin employment with Northern Enterprises Ltd. (NEL).Her salary for the year was $142,000.NEL withheld the following amounts from her earnings:

Federal And Provincial IncomeTax $32,500

Registered Pension Plan Contributions

(NEL Makes A MatchingContribution) 3,200

EIPremiums860

CPPContributions2,749

United WayDonations450

Professional AssociationDues1,250

The following benefits are received:

1.Free parking- The value of $2,300.

2.Wedding or birthday gifts of up to $700.

3.All-expense paid holiday won as part of a sales contest is 4,500.

4.The employee uses frequent flyer points for a personal trip. The points of $500 were earned as a result of business trips.

5.The company provides an employee discount of 24% for all employees on products sold by Auto Supply. For 2020, the employee purchased for $10,000.

6.The company pays to provide financial counselling for $500, and the preparation of their personal tax returns for $700.

7.The company will pay for annual professional dues for employees. For example, accountants and lawyers.

Required: Calculated the net income for the year.