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Freds bockireping business provides youthe following Accouming GAAP. firancial infoemation for this years busertss inceine tat refian: income stabement: 1. Aevanue 5109,000 2 Mass and fremertarmont 510000 3 suchif Lapenses $2,000 4 Depiecation Expunses 55000 Aavets Furniture fiass s. rose ucc was 110,000- Purchase this yoar was $10,000 and disposed of furniture for proceeds of 510.000 and had an original cost of $5.000. The Businoss ineeme tax profit to bo inserted into Line 13700 is? A Candian Resident, as delined by CRA and the Income Tax Act, must teport their annual world income to Canada Revenue Agency True False