Jack'sScent Shoppe is the name of a sole proprietorship that carries on a retail business. The business has a December 31 fiscal period and began in2023. In its first fiscal period?business, sales totalled$162,000 of which$108,000 was received in cash and$53,000 on account. Of the cash?sales,$10,000 represents advance payments for goods that will only be delivered in2024. On December?31,2023?, $19,000 of the accounts receivable are outstanding.Jack identifies$2,100 of the accounts receivables as doubtful of collection. Indicate the2023 business income on the assumption that maximum income tax reserves are claimed.

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Complete the below table to calculate the 2023 business income. Cash Sales-ITA 9 Accounts Receivable-ITA 12(1)(b) Reserve for undelivered goods-ITA 20(1)(m) Reserve for doubtful debts-ITA 20(1)(1) $ 108,000 53,000 (10,000) (2,100) Total Increase in 2023 business income $ 148,900 Complete the below table to calculate the 2023 business income. Cash Sales-ITA 9 Accounts Receivable-ITA 12(1)(b) Reserve for undelivered goods-ITA 20(1)(m) Reserve for doubtful debts-ITA 20(1)(1) $ 108,000 53,000 (10,000) (2,100) Total Increase in 2023 business income $ 148,900