Question: 24. Use the following information to answer the next two questions Bill has the following income and expense statement: Income Salary Year 2 Year

24. Use the following information to answer the next two questions Bill

24. Use the following information to answer the next two questions Bill has the following income and expense statement: Income Salary Year 2 Year 1 $67,000 Bonuses Rental income $8,000 $15,000 Capital gains $500 $600 Canadian dividends $200 $200 EI benefits $16,000 Expenses Pension adjustment $0 $2,600 Childcare expenses $1,500 $1,500 RRSP contribution $2,700 $5,200 Charitable donation $500 $500 What is Bill's taxable income for Year 2? 27340 Expenses $4700 = $27340 31500 $4700 income a) $22,550.50 b) $27,400.00 $ 31500 $27,340.00 $31,987.45

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