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The follawing information relates to Perry Somer's financial affilirs in 2 0 2 3 . Perry la employed as a salesperson and is remunersted by

The follawing information relates to Perry Somer's financial affilirs in 2023.
Perry la employed as a salesperson and is remunersted by commisalona. He must psy all of his own expenaea. During the year, he
earned commlssions of $54,000. His employer withleld income tsx, E, snd CPP contributions (Including CPP enhanced
contrbutions of $505; His expense: were sa follows.
Autonchsie (coperating cosits)
Entertainment (ncals)
Comention (related to his eqployent)
Donations
Cell phone basic plan (rolated to his employent)
The persanal-use portion of his autamable expense is 20%. The UCC of his sutomobile at the end af the previous year ws: $6,100.
2 He mode the following capital transactions.
Shares of public corporation A
Shares of public corporation 8
Shares of Caradian-cantrolled private corporation C
(a seall business corporation)
In 2022, Perry scquired the following two reaidentisl rental properties.
Maximum copital cost allowance was claimed in 2022. In 2023, the city expropriated property Y for $80,600(iland - $20,600,
building - $60,000. Perry was plessed becsuse property Y was vecant for part of the year after o tensent vacated unexpectedly. In
2023, net rental income from both properties (ater all expenses but before capital cost allawsence) was $1,000.
Perry's other income and expenses sre ss follaws.
Incone:
oividerds - Canadian public corporations
Interest on forelgn bonds (sotof158 witholding tax) $2,460
1,760
Expenses:
Interest on a loan used to acquire the foroign bonds 1,56e
Imestment counsel foe 1,960
1,969
During the yesr, Perry contributed 1,000 to a reglatered pension plan, which was matched by his emplayer In sddition, he
contributed $2,400 to hls RRSP.
Required:
Calculate Perry's minimum 2023 net income in sccordsnce with the sggregsting formula for determining net income for tax purpoces.
Paragraph 3(a) Inoome:
Employmant insome:
0
Property inoome:
Paragraph 3(b) Capital cainc & oapital ioccec:
Paragraph 3(0) Othar daduotione:
s
Paragraph 3(d) Loccec:
Nast income for Tax purposes
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