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Question 1. (30 pts) Steve received a T4 from his employer that said he earned a total of $51,000. Steve is a partner of RJS

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Question 1. (30 pts) Steve received a T4 from his employer that said he earned a total of $51,000. Steve is a partner of RJS Partnership, they run a computer software business and for the current year his share of the income is a loss of $15,000. He received a T5 for interest that he earned from the Royal Bank of $800. This year he sold his cottage and has a capital gain of $12,000 because he built it 8 years ago and property in the area has appreciated over that time period. Steve contributed $6,750 to his RRSP this year. In compliance with the terms of his divorce agreement, Steve has paid deductible spousal support of $800 per month for the entire year. Steve had a winning lottery ticket which resulted in his receiving a prize of $10,000. He has a Capital Loss of $8,000 on his investments this year. Required: 1. Calculate the Net Income For Tax Purposes for Steve. (Use ITA Section 3 aggregating format)

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