The following information relates to Perry Somer$$s financial affairs in $2023.$

Perry is employed as a salesperson and is remunerated by commissions. He must pay all of his own expenses. During the year, he earned commissions of $$54,000.$ His employer withheld income tax, EI$,$ and CPP contributions $($including CPP enhanced contributions of $$505).$ His expenses were as follows.

Automobile $($operating costs$)$ $ $3,600$

Entertainment $($meals$)1,200$

Convention $($related to his employment$)500$

Donations $200$

Cell phone basic plan $($related to his employment$)1,200$

The personal$-$use portion of his automobile expense is $20\%.$ The UCC of his automobile at the end of the previous year was $$6,100.$

He made the following capital transactions.

Gain $($loss$)$

Shares of public corporation A $ $12,100$

Shares of public corporation B $(21,800)$

Shares of Canadian$-$controlled private corporation C $(7,300)$

$($a small business corporation$)$

In $2022,$ Perry acquired the following two residential rental properties.

Property X Property Y

Land $ $12,100$ $ $15,000$

Building $84,70060,000$

Maximum capital cost allowance was claimed in $2022.$ In $2023,$ the city expropriated property Y for $$80,600($land $-$ $$20,600,$ building $-$ $$60,000).$ Perry was pleased because property Y was vacant for part of the year after a tenant vacated unexpectedly. In $2023,$ net rental income from both properties $($after all expenses but before capital cost allowance$)$ was $$1,000.$

Perry$$s other income and expenses are as follows.

Income:

Dividends $-$ Canadian public corporations $ $2,400$

Interest on foreign bonds $($net of $15\%$ withholding tax$)1,700$

Expenses:

Interest on a loan used to acquire the foreign bonds $1,500$

Investment counsel fee $1,000$

During the year, Perry contributed $1,000$ to a registered pension plan, which was matched by his employer. In addition, he contributed $$2,400$ to his RRSP$.$

Required:

Calculate Perry$$s minimum $2023$ net income in accordance with the aggregating formula for determining net income for tax purposes.does not indicate completion.

Employment Income:

Automobile CCA

Automobile Operating expenses

Commission Income

Contribution to RPP

Entertainment Expense

Telephone Expense

Property income:

Property X CCA

Recapture of CCA

Net rents after expenses but before CCA

Dividends

Foreign interest

Interest expense

Investment counsel fees

Paragraph $3($b$)$ Capital gains & capital losses:

Allowable capital loss $-$ Corp B

Taxable capital gain $-$ Corp A

Taxable capital gain $-$ Property Y

Paragraph $3($c$)$ Other deductions:

RRSP deduction

CPP enhanced contributions

$$ $$(10,900)$

$($ $$6,050$

$ $0$

$0$

$ $(4,850)$Employment Income:

Paragraph $3($b$)$ Capital gains & capital losses:

Allowable capital loss $-$ Corp B

Taxable capital gain $-$ Corp A

$\backslash$table$[[$$$,(10,900)\backslash$times $],[$$$,6,050\backslash$times $],[$$$,0\backslash$times $]]$

Taxable capital gain $-$ Property $Y$

Paragraph $3($c$)$ Other deductions:

RRSP deduction

CPP enhanced contributions

$ $2,905$