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You are provided with the following amounts for Wendy Riley for the current year: - Wages (ITA 5) =$9,000 - Interest income (ITA 12) =$2,800
You are provided with the following amounts for Wendy Riley for the current year: - Wages (ITA 5) =$9,000 - Interest income (ITA 12) =$2,800 - Taxable amount of dividends (ITA 12) =$1,500 - Taxable capital gains (ITA 38 to 55)=$5,300 - Allowable capital losses (ITA 38 to 55) =$11,000 - Spousal support payments (allowed pursuant to ITA 60) =$15,000 - Net business loss (ITA 9 to 37) =$38,000 Based on the above, the net income reported by Wendy Riley pursuant to ITA 3 for the current year is: Choose the correct answer. A. (29,680) B. Nil C. (51,160) D. (38,000)
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