The following information concerning the financial statements of Incredible Incubators Incorporated for its fiscal year ended September 30, 2019 has been presented to you in order to prepare tax returns.

(a) Net income after tax per financial statements $150,000

(b) Provision for income taxes-current 25,000

-future 130 000

(c) Amortization expense 40,000

(d) Reserve for doubtful debts-deducted in 2018 10 000

- deducted in 2019 15 000

(e) Interest on income taxes paid after the due date 2,500

(f) Bond annual discount amortization $7,500

(g) Landscaping costs re factory premises-debited to land account 12,000

Required: Using the foregoing information, compute income for tax purposes for Incredible Incubators their fiscal year ended September 30, 2019. [Ignore capital cost allowance in respect of depreciable capital property.]