Problem 1 (12 marks): ABC Co. is a proprietorship owned by Anna Winter. Its taxation year ends on December 31. For the current year, Anna's accountant, Olaf, has calculated a Net Income for ABC Inc. of $193,200 using generally accepted accounting principles. Other Information: 1. The following expenses were included in accounting expenses: $69,300 2,000 7,200 Amortization expense Financing fees to organize a business loan Cost of sponsoring local events (Through these local promotions, the business made more customer relations) Advertising on a US television station (Directed at Canadian market) Business meals and entertainment Loss from theft Anna's art lessons for her personal interest Interest paid on late income tax instalments 9,600 22,000 16,200 800 1,400 2. Olaf has correctly calculated CCA for the year in the amount of $94,200. 3. The company spent $9,000 on Landscaping Costs during 2020. In accordance with GAAP, these costs were capitalized and amortized in the accounting records. Required: Prepare a reconciliation to calculate ABC Co.'s net business income for tax purposes per the method we used in class (i.e. 4 steps starting with Accounting Net Income). Show your full responses in the order of the above items and clearly indicate relevant items under the Additions and Deductions