The following financial information is provided for the 2022 taxation year for Angela Fowler:

Interest income	$	22,000
Net loss from retail store for the year ended December 31, 2022		(9,000	)
Gain on sale of public corporation shares		10,000
Loss on sale of shares of a small business corporation		(12,000	)
Dividends from foreign corporations, net of $100 withholding tax		1,900
Loss on sale of land that was originally purchased to build a rental property. The project was cancelled after a rezoning application was lost.		(36,000	)
Gain on sale of an oil painting		6,000
Directors fees for attendance at corporate meetings		8,000
Loss on sale of personal jewellery		(7,000	)

In 2022, Angela gifted shares of a public corporation to her 16-year-old son. The shares, which originally cost $10,000, had a value of $12,000 at the time of the gift.

Also in 2022, Angela had a rental loss of $5,000 (before amortization/depreciation and capital cost allowance). The property was originally purchased for $74,000 (land $11,000; building $63,000). The class 1 building had an undepreciated capital cost of $50,000 at the end of the previous year. On the last day of 2022, Angela sold the property for $104,000 (land $14,000; building $90,000). She intends to purchase a new rental property in early 2023 for $200,000 (land $22,000; building - $180,000).

In the previous year, by agreement, Angela obtained the exclusive licence to distribute a certain product in Canada. In 2022, she divided the country into six sales territories and sold 10-year sub-licences to individuals in each territory. Total proceeds were $26,000.

Required: 1. Calculate Angelas net income for tax purposes for the 2022 taxation year in accordance with the aggregating formula of section 3 of the Income Tax Act. (Assume Other Deductions total $2,000.)