Please complete a CDN Statement of business and Professional activities for Mary Smith (sole proprietor, bookkeeper) given the information provided below:

She works from home as a writer and she generates $120,000 per year from her client billings.

In order to run her business she has following expenses:

-advertising $500 per year

-liability insurance = $1,200 per year

-assistant = $24,000 year

--meals and entertainment = $3,200 year

-office supplies (pens, paper, toner, etc) = $1,500 year

-equipment = she bought a new laptop computer for $1,600 and printer for $700 (assume these were purchased at beginning of the 2021 year).

-travel expenses = $3,000 year

-cell phone expenses = $1,440 year

-internet expense = $1,080 year

Mary also uses her home office for business purposes and the total sq footage of the home is 1,500sqft and she uses 200sqft of this total area. The house has three rooms excluding the bathroom and she uses one room as her office. She had a mortgage outstanding of $320,000 at the beginning of the year. Her interest rate is 3% compounded semi-annually and the mortgage is amortized over 25 years. (assume she took out the mortgage on Jan 1, 2021). She also had other home related expenses including : $3,600 in property taxes, $1,800 in property insurance, $1,200 for heat and $600 for electricity. She also had maintenance expense of $4,200 and she replaced the roof for $25,000.

Mary uses her vehicle to meet with clients and her total mileage is 15,630km for the year and she drove 8,040km for business purposes. Her auto insurance is $1,074 for the year and she spent $3,600 on fuel, $430 on maintenance and $600 on parking. Her vehicle is worth $30,000 and she owes $20,000 on a vehicle loan that charges 6% with full repayment in five years. The is vehicle is a 2021 Honda sedan. (assume the vehicle was purchased on Jan 1, 2021 as well.

Complete her T2125

https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/t2125/t2125-fill-18e.pdf