Please answer in excel,

11 35 Marks of 16 Fishmore and Dolittle Retirement Consultants Inc., a Canadian public company, employs Mr. AI B. Gonesoon. Al lives in Montreal but travels extensively across Canada on behalf of the company, to promote its consulting services to various companies that are "right sizing" their staff levels through terminations and early retirement packages. He comes to see you needing help with the preparation of his 2021 tax return. You have gathered the following information: Gross salary: $100,000 Payroll deductions: Income tax withheld. 13,200 Quebec Pension Plan 2,900 Employment Insurance .775 Contribution to the company's RPP. -3.400 Donation to a registered charity 150 Contribution to the Group Disability Insurance Plan... 200 Net salary. $79,375 In addition to his above salary, the following additional benefits were provided to Al: A bonus earned in 2021 was paid on January 5, 2022 15,000 A bonus earned in 2020 was received on January 5, 2021 -13,000 iPad Christmas gift (given pursuant to having reached a sales target) ..500 Company paid Group Life Insurance premiums. 350 Company paid Group Health and Dental Plan Company paid Group Health and Dental Plan premiums... .1,250 Company paid Group Disability Insurance Plan premiums.... .200 Company contribution to the RPP 4,000 Other information: 1) The company sent Al to their annual sales convention in Toronto. Since the company paid for the trip, his wife also came with him. She visited her mother in Toronto during the whole convention. The company reimbursed Al for the airfares and hotel room pertaining to both of them. The amount reimbursed to Al was $3,000. 2) Al's ate all his lunches at the company's cafeteria. He thought the food was not good but at least it was cheap because he only paid $600 for the year, instead of $1,200, which the Company charged to non-employees. The company's actual total cost for providing the food was $800. 3) An automobile was provided to Al for the whole year to visit clients. The company bought the car in 2020 at a cost of $28,756. Both the depreciated value and FMV of the car on December 31, 2021 is $22,600. Al traveled a total of 30,000 km during 2021, of which 18,000 km were for employment purposes. The employer paid all of the costs incurred to operate the car, which in 2021 was $5,000 4) Due to years of excessive wining and dining clients, Al is now overweight. The company believes that all employees must be in good physical health to accomplish their work efficiently. Consequently, the company pays the annual $1,000 membership fee for all its employees that join the local fitness club. Al became a member in 2021 but has yet to visit the club. $ 2,275 for electricity to heat his house $ 500 for the basic monthly phone charges $ 545 of office supplies (paper, pens...etc.) 11) As per his employment contract, Al was not reimbursed for the following very specific expenses that were incurred in 2021 to earn his employment income: - Annual membership dues to the Wherethehelldidmyballgo Golf Club 3,500 - Meals with important clients eaten while on out-of-town on business trips 800 - Tickets to freeze, while watching, the Montreal Alouettes outdoor games with clients 500 REQUIRED: In a concise point form schedule, determine Al's minimum net employment income for the year 2021. For full marks, you must identify all items that have no impact on this calculation (i.e., nil value items for tax purposes) m 5) Al receives a monthly allowance of $200 to cover the costs associated with entertaining the company's major clients in Montreal. Furthermore, because the company requires its salesmen to be sharp-dressed men that make a good impression with clients, the company pays a reasonable annual clothing allowance of $1,200. However, because of Al's copious size, his suits need to be tailor made, so in 2021 Al actually paid $5,000 for his clothes. 6) On July 15, 2021, Al was granted options to purchase 500 shares of the company's stock at a price of $25. At the time of this grant, the shares were trading at $22 per share. To soften this obvious negative disparity in value, the options vested immediately after being granted. On December 10 th 2021, the shares went up to $55 after the company had announced new record high sales for the year. Al immediately exercised all his options on that very same day and plans to keep the shares until his own retirement in 5 years. 7) Al was granted a 5-year loan of $200,000 on April 1, 2021, to help him with some major renovations needed to his house. The company charges him a fixed interest rate of 1% for the entire loan period. Al will repay no loan capital and only interest on each anniversary date of the loan. Assume that the prescribed interest rate for all of 2021 was 2%. 8) In May 2021, Al was in a car accident and was unable to work for six weeks. During this period, he received disability payments totalling $11,500 from the company's insurance company. This was the first claim Al ever made. He pays his disability insurance premiums through payroll deductions. Prior to 2021, his cumulative total premiums paid for the Plan was $1,800. 9) Al was invited to the annual free employee Christmas party and because it was a buffet and open bar, Al consumed 5750 worth of food and alcoholic beverages. 10) As per the terms of his employment contract, and evidenced by a signed T2200 AI is required to maintain an office in his home. The office is a room that is exclusively used for this purpose and represents about 1/10 of the floor space of his house. To run his office in 2021, he incurred the following expenses: $ 2,275 for electricity to heat his house 11 35 Marks of 16 Fishmore and Dolittle Retirement Consultants Inc., a Canadian public company, employs Mr. AI B. Gonesoon. Al lives in Montreal but travels extensively across Canada on behalf of the company, to promote its consulting services to various companies that are "right sizing" their staff levels through terminations and early retirement packages. He comes to see you needing help with the preparation of his 2021 tax return. You have gathered the following information: Gross salary: $100,000 Payroll deductions: Income tax withheld. 13,200 Quebec Pension Plan 2,900 Employment Insurance .775 Contribution to the company's RPP. -3.400 Donation to a registered charity 150 Contribution to the Group Disability Insurance Plan... 200 Net salary. $79,375 In addition to his above salary, the following additional benefits were provided to Al: A bonus earned in 2021 was paid on January 5, 2022 15,000 A bonus earned in 2020 was received on January 5, 2021 -13,000 iPad Christmas gift (given pursuant to having reached a sales target) ..500 Company paid Group Life Insurance premiums. 350 Company paid Group Health and Dental Plan Company paid Group Health and Dental Plan premiums... .1,250 Company paid Group Disability Insurance Plan premiums.... .200 Company contribution to the RPP 4,000 Other information: 1) The company sent Al to their annual sales convention in Toronto. Since the company paid for the trip, his wife also came with him. She visited her mother in Toronto during the whole convention. The company reimbursed Al for the airfares and hotel room pertaining to both of them. The amount reimbursed to Al was $3,000. 2) Al's ate all his lunches at the company's cafeteria. He thought the food was not good but at least it was cheap because he only paid $600 for the year, instead of $1,200, which the Company charged to non-employees. The company's actual total cost for providing the food was $800. 3) An automobile was provided to Al for the whole year to visit clients. The company bought the car in 2020 at a cost of $28,756. Both the depreciated value and FMV of the car on December 31, 2021 is $22,600. Al traveled a total of 30,000 km during 2021, of which 18,000 km were for employment purposes. The employer paid all of the costs incurred to operate the car, which in 2021 was $5,000 4) Due to years of excessive wining and dining clients, Al is now overweight. The company believes that all employees must be in good physical health to accomplish their work efficiently. Consequently, the company pays the annual $1,000 membership fee for all its employees that join the local fitness club. Al became a member in 2021 but has yet to visit the club. $ 2,275 for electricity to heat his house $ 500 for the basic monthly phone charges $ 545 of office supplies (paper, pens...etc.) 11) As per his employment contract, Al was not reimbursed for the following very specific expenses that were incurred in 2021 to earn his employment income: - Annual membership dues to the Wherethehelldidmyballgo Golf Club 3,500 - Meals with important clients eaten while on out-of-town on business trips 800 - Tickets to freeze, while watching, the Montreal Alouettes outdoor games with clients 500 REQUIRED: In a concise point form schedule, determine Al's minimum net employment income for the year 2021. For full marks, you must identify all items that have no impact on this calculation (i.e., nil value items for tax purposes) m 5) Al receives a monthly allowance of $200 to cover the costs associated with entertaining the company's major clients in Montreal. Furthermore, because the company requires its salesmen to be sharp-dressed men that make a good impression with clients, the company pays a reasonable annual clothing allowance of $1,200. However, because of Al's copious size, his suits need to be tailor made, so in 2021 Al actually paid $5,000 for his clothes. 6) On July 15, 2021, Al was granted options to purchase 500 shares of the company's stock at a price of $25. At the time of this grant, the shares were trading at $22 per share. To soften this obvious negative disparity in value, the options vested immediately after being granted. On December 10 th 2021, the shares went up to $55 after the company had announced new record high sales for the year. Al immediately exercised all his options on that very same day and plans to keep the shares until his own retirement in 5 years. 7) Al was granted a 5-year loan of $200,000 on April 1, 2021, to help him with some major renovations needed to his house. The company charges him a fixed interest rate of 1% for the entire loan period. Al will repay no loan capital and only interest on each anniversary date of the loan. Assume that the prescribed interest rate for all of 2021 was 2%. 8) In May 2021, Al was in a car accident and was unable to work for six weeks. During this period, he received disability payments totalling $11,500 from the company's insurance company. This was the first claim Al ever made. He pays his disability insurance premiums through payroll deductions. Prior to 2021, his cumulative total premiums paid for the Plan was $1,800. 9) Al was invited to the annual free employee Christmas party and because it was a buffet and open bar, Al consumed 5750 worth of food and alcoholic beverages. 10) As per the terms of his employment contract, and evidenced by a signed T2200 AI is required to maintain an office in his home. The office is a room that is exclusively used for this purpose and represents about 1/10 of the floor space of his house. To run his office in 2021, he incurred the following expenses: $ 2,275 for electricity to heat his house