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