The income statement has been prepared by Daisy Ltd's accountant for the current year ending December 31, 2022 is as follow:
	Sales							8,000,000
	Cost of goods sold							5,400,000
	Gross Profit							2,600,000
	Operating Expenses
		General and administrative expense (Note 1)					(211,000)
		Meal and Entertainment(Note 2)					(31,000)
		Interest expense ( Note 3)					(1,650)
		Repairs and Maintenance					(62,000)
		Amortization expense (Note 4)					(150,000)	(455,650)
	Operating Income							2,144,350
	Other Income and expense:
		Interest Income						110,532
		Loss on disposal of limited life licence						(17,000)
	Income before income tax expense							2,237,882
	Income tax expense							(170,000)
	Net Income							2,067,882
Notes:
1.	General and administrative expense include:
		Donations to registered charities							27,000
		Accrued bonues							78,000
		(Accrued June 1, 2022, paid January 16, 2023)
		Tax filing services for 2021, paid in March 15, 2022							2,000
		Payroll Expenses							60,000
		New software purchases on October 1, 2022							38,000
				($13,000 for application software and $25,000 for systems software)
		Accounting and legal fees for amendments to articles of incorporation							6,000
2.	Meals and entertainment expenses:
		Premium membership at golf club for Daisy							6,000
		Memberships at golf club for salespeople							2,000
		Meals while enteretaining clients							17,000
		Annual summer BBQ for all staff							6,000
3.	Interest expese paid to CRA due to late payment of tax owing								1,500
	Interest expense paid to Enmax due to late payment of January's bill								150
4.	Maximum CCA has always been taken on all depreciable property. The UCC balances at January 1, 2022 are as follows:
				Class 8			95,000
				Class 14			68,000
				Class 14.1			-
				Class 10.1			13,090
	a.	In 2022, a limited life licence to produce costumes based on a popular theme park was sold for $63,000. The original cost of this licence was $95,000 and its carrying value at the time of sale was $80,000. The licence was the only property in class 14
	b.	Daisy Ltd purchases land and constructed a new building on it during the year. The building will be used 95% for manufacuring and processing. An election was made to include the building in a separate class 1. The cost of the land was $350,000, and the building cost $475,000 to construct.
	c.	New furnitures for the receiption area were purchased for $1,200, and some outdated desks used by the finance department with a cost of $5,000 were sold for $3,500
	d.	Daisy purchased a fuel car worth $50,000 for one of the salespersons to use for employment purposes.
Requirement:
PART I :
	Capital Cost Allowance (CCA) schedule and the UCC (Undepreciated Capital Cost) balance for Daisy Ltd. must be shown in excel format.
PART II:
	Using an Excel workbook, make a reconciliation schedule for Daisy Ltd. Calculate the minimum net income for the 2022 taxation year for Daisy Ltd,. Provide a brief description of the items that are not included in your calculation.