The following information has been provided for Eldhar Inc., a Canadian controlled private corporation for its current year ended December 31: 

The following statement has been provided:

Sales	$895,000
Cost of sales	$450,000
General and administrative expenses	225,000
Research and development expenditures	75,000
Operating income	$145,000
Other income	35,000
Net income before taxes	180,000
Provision for income taxes – current and future	40,000
Net income after taxes	$140,000

You have been provided some notes on the above information:

The information in the following notes has already been reflected in the above income statement.

Amortization expense recorded in the financial statements	$25,000
Landscaping costs re: factory premises	1,500
Interest on bank loan obtained for the purpose of purchasing common shares in XYZ., a dividend-paying Canadian corporation	6,700
Legal costs of arranging an agreement among shareholders	2,200
Golf club membership fees	1,800
Meals and entertainment for clients	7,700
Management bonuses ($35,000 of the bonuses expensed in 2020, and shown as ‘‘Bonus Payable’’ on the Balance Sheet as at December 31, 2020 has not been paid at the time of filing the corporate tax return on June 30, 2021)	55,000
Interest and penalties on income tax assessments, expensed for accounting purposes	2,250
Dividends received	5,500

Required: 

You will need to calculate the income from business / property for tax purposes for 2020. Start with the net income after taxes figure of $140,000. Then make the necessary adjustments and make supporting notes (1, 2, 3, etc.) to explain why something should stay in the financial statements, or why it should be adjusted.