Required: Determine Alexa's net employment income for the year ending December 31, 2018. Show all calculations.

Required: Determine Alexa's net employment income for the year ending December 31, 2018. Show all calculations.

Assighll Assignment Problem Three -10 Employment Income) Ms. Alexa Braxton has worked for AAAA Retailers for a number of yea controlled private corporation. It operates three children's clothing sto AAAA is a Canadian thing stores in the Edmonto er salary for the year 2018 was $120,000. AAAA withheld the followin earnings: area $20,400 858 2,594 Federal And Provincial Income Tax El Premiums CPP Contributions 900 Private Health Care Plan - Employee Porti Union Dues 1. AAAA provided Alexa with a car to be used in her employment activities. In addition, th Company paid her 2018 operating costs of $10,250. The car was purchased used, from car dealer for $33,600, including GST of $1,600 The car was available to Alexa throughout 2018. During this period, she drove a total of 81,000 kilometers, 6,000 of which were for personal use lexa earned the outstanding employee award for 2018. Besides a plaque, the award came with a cheque for $2,000 payable in January, 2019 3. In renegotiating interest free loan as one of her benefits. Because employee loans were not company policy, as an alternative she was granted options to buy 1,000 of the company's shares at $35 per share. This option price was higher than the estimated fair market value of the company's shares at the time the options were granted in January, 2018 On July 15, 2018, Alexa exercised these options. At this time the fair market value of the shares was $48 per share. Alexa immediately sold the shares for $48 per share e of the reasons Alexa has stayed with AAAA is the employer provided free day care Other Information: her future compensation with AAAA, Alexa had asked for a $25,000 4. On ted on AAAA's property. It is not open to the public. She has two sets of twins aged 2 and 4. She estimates that she would have to pay an annual minimum of $8,500 per child for day care without the facility 5. AAAA offers all of its employees a 20 percent discount on full price merchandise in all of its Alexa purchased $2,800 worth of merchandise during 2018 and received discounts totalling $560. The discounted price of this merchandise was greater than its cost to the Company AAAA provided Alexa with the following additional benefits: Takeout Meals Eaten While Working Infrequently Required Overtime Private Health Care Plan - Employer Portion Personal Fitness Trainer Fees In $1,200 1,800 Company Wellness Centre Alexa was required by AAAA to use a large tablet to fulfill her employment duties, Sh free to choose whatever tablet she wanted to use. AAAA would reimburse her for it and i would be company property. During 2018, she purchased: 700 an iPad Pro for $1,775 (GST inclusive a wireless printer for $450 (GST inclusive) ink cartridges and paper totaling $550 (GST inclusive) The tablet and the printer were used exclusively for Company busines Assighll Assignment Problem Three -10 Employment Income) Ms. Alexa Braxton has worked for AAAA Retailers for a number of yea controlled private corporation. It operates three children's clothing sto AAAA is a Canadian thing stores in the Edmonto er salary for the year 2018 was $120,000. AAAA withheld the followin earnings: area $20,400 858 2,594 Federal And Provincial Income Tax El Premiums CPP Contributions 900 Private Health Care Plan - Employee Porti Union Dues 1. AAAA provided Alexa with a car to be used in her employment activities. In addition, th Company paid her 2018 operating costs of $10,250. The car was purchased used, from car dealer for $33,600, including GST of $1,600 The car was available to Alexa throughout 2018. During this period, she drove a total of 81,000 kilometers, 6,000 of which were for personal use lexa earned the outstanding employee award for 2018. Besides a plaque, the award came with a cheque for $2,000 payable in January, 2019 3. In renegotiating interest free loan as one of her benefits. Because employee loans were not company policy, as an alternative she was granted options to buy 1,000 of the company's shares at $35 per share. This option price was higher than the estimated fair market value of the company's shares at the time the options were granted in January, 2018 On July 15, 2018, Alexa exercised these options. At this time the fair market value of the shares was $48 per share. Alexa immediately sold the shares for $48 per share e of the reasons Alexa has stayed with AAAA is the employer provided free day care Other Information: her future compensation with AAAA, Alexa had asked for a $25,000 4. On ted on AAAA's property. It is not open to the public. She has two sets of twins aged 2 and 4. She estimates that she would have to pay an annual minimum of $8,500 per child for day care without the facility 5. AAAA offers all of its employees a 20 percent discount on full price merchandise in all of its Alexa purchased $2,800 worth of merchandise during 2018 and received discounts totalling $560. The discounted price of this merchandise was greater than its cost to the Company AAAA provided Alexa with the following additional benefits: Takeout Meals Eaten While Working Infrequently Required Overtime Private Health Care Plan - Employer Portion Personal Fitness Trainer Fees In $1,200 1,800 Company Wellness Centre Alexa was required by AAAA to use a large tablet to fulfill her employment duties, Sh free to choose whatever tablet she wanted to use. AAAA would reimburse her for it and i would be company property. During 2018, she purchased: 700 an iPad Pro for $1,775 (GST inclusive a wireless printer for $450 (GST inclusive) ink cartridges and paper totaling $550 (GST inclusive) The tablet and the printer were used exclusively for Company busines