Over the past 5 years Paul Brereton has been working for a local bank as a small business banker. Because of his gained experience he has decided to start a small tax preparation company to supplement his income. The Business commenced January 1st, 2018. On that date, he acquired furniture (cca 20%) costing $2,500, a computer (cca 55%) for $900, and software (cca 100%) for business activities of $500. He also has a separate phone line installed which will be solely used for the tax prep business. The business will be run out of Paul's home making exclusive use of 10% of the total available floor space.During the period of Jan 1st to December 31st, 2018, his business had total service revenue of $65,000. Cost associated with these services are as follows:Postage Expense $1,500, Misc Office Supplies $800, Telephone Exp $350,Marketing and Printing $2,500. Paul's home was purchased several years ago for $275,000 (class 1 CCA 4%) of which $75,000 was allocated to land. Cost accrued with respect to the home for the year ending Dec 31st, are as follows: Utilities $3,000,Mortgage Interest Paid $2,750, Home Insurance $300, Property Taxes $1,250, Repairs and Maintenance $2,000, Total $9,300.Can Mr. Brereton deduct work space in the home costs? Computer the minimum net business income or loss that Paul must report for 2018.