WEEK4 Corp. Revenue$700,000 Cost of goods sold*$250,000 Gross profit$450,000 Advertising (in Canadian media)$15,000 Meals & Entertainment $8,000 Amortization*$9,500 Net Income for Operations $417,500 Gain on sale of shares$8,000 Profit (Loss)$425,500* (Beginning Inventory = $15,000 & Closing Inventory = $25,000) Notes: 1. The amortization is on Class 8 assets with a UCC of $45,000. 2. Shares in Big Co. (a public corporation) were sold for $88,000 and had an ACB of $80,000. Additional Information: Week4 has a net-capital loss carry-over from 2019 in the amount of $5,000. Week4 has a non-capital loss carry-over from 2019 in the amount of $12,000.

Q: What is the Net income for Tax purposes and Taxable Income?