**URGENT** Tree Inc. is a CCPC, operates a wholesale and retail business and has some investments. Trees financial statements for the year ended December 31, 2022, reported a net income of $300,000 before income tax. You have been retained to determine the corporations income tax liability and to provide advice on other tax matters. Tree LTD. 2022 Financial Information 1. The net income of $310,000 is summarized as follows: Income from business operation 275,000 Gain on sale of capital assets 5,000 Interest Income 20,000 300,000 2. In June 2022, Tree constructed a new building. The cost consist of the following: Land 100,000 Building 400,000 Architects fees 15,000 Paving parking lot 20,000 Central Heating/air conditioning system 65,000 All of the above costs, except land, are included in the building cost on the balance sheet. 3. On December 1, 2022, Tree sold its 2 delivery trucks (only assets in the class) for $40,000, originally costing $50,000 and now leased new trucks instead. Tree also sold some office equipment for $10,000 (original cost $20,000) and purchased new equipment for $30,000. 4. On January 1, 2022, Tree leased an automobile for the president costing $50,000. During the year, the company paid $12,000 as a lease payment for this automobile (ignore any taxes). At the same time, the automobile formerly used by the president, which originally cost $35,000, was sold for $20,000. It was the only asset in this class. 5. On November 1, 2021, Tree purchased new computers costing $20,000. The old computers, which originally cost $12,000 (purchased in 2019), were sold for $2,000. 6. A review of Oranges 2020 corporate tax return provides the following information: 3/6 Undepreciated capital cost (UCC) Class 1 440,000 Class 8 15,000 Class 10 28,000 Class 10.1 18,000 Class 50 6,500 7. The income statement for the year ended December 31, 2022 included the following: Legal 10,000 Reserve for retroactive wage increase 20,000 Reserve for warranty obligations 8,000 Advertising and Promotion expresses 31,000 Amortization 25,000 Landscaping 5,000 Legal fee included $2,000 paid for obtaining a mortgage on the building (note 2), $3,000 paid to a collection agency to recover a delinquent account, $2,500 for filling a lawsuit against a supplier for breach of contract, $1,000 for audit fee, and $1,500 for business succession planning advice for the president and his family. Advertising and promotional expenses included $20,000 paid in advance on December 31, 2022, to an advertising agency to develop a TV commercial for next year, $5,000 paid to a foreign broadcasting company for advertising targeting the Canadian market, $1,000 for the hockey match tickets for the top supplier, and $5,000 for catalogue printing. 8. On April 1, 2022, Tree paid $4,000 for a 1-year supply of office stationery (till March 31, 2023). On July 1, 2022, Tree invested $50,000 in a 2-year bank term deposit. An interest of 3% is payable annually on the anniversary date. No interest income was recorded in 2022 for accounting purposes. 9. On December 31, 2022, Tree sold 3,000 shares of HH Inc., a public company, for $20 per share. These shares were acquired as follows: January 1, 2009 1,000 shares@$14 per share January 1, 2010 1,000 shares@$15 per share July 1, 2012 1,000 shares@ $16 per share Required Under Part I of the Income Tax Act, calculate Tree's minimum net income for tax purposes for the 2022 taxation year.