Dr. No just cannot seem to say no. When people ask him for things, he tries to comply. His family members are well aware of this, and oiers are now starting to catch on. Examples of his generosity are given below. 1. Dr. No gave his wife $1,[|[l cash in June EDGE, to allow her to invest in the market. Mrs. No decided to be careful and invested the $1, in Series 1HMSDCI'F Bonds. Interest paid to the end of the year amounted to $5ll. 2. James, the 13yearold son of Dr. No, asked his father for some of his shares in IlGroldfinger Enterprises. Dr. No gifted the shares that had a fair market value at the time of $9. The cost of the shares to Dr. No was $1,253. James decided to sell the shares in December for proceeds of $l,5. 3. Jaws, a brotherinlaw of Dr. No, asked for help as he was having difficulty finding work recently something about dental insurance. Dr. No, feeling some level of pity, sold him his rental property {building only) on January 3, 2|]I'JB, valued at $1l],l][l, for $l,l][} down and the remainder as an interestfree note. The cost of the property to Dr. No was $9,{l one year earlier. Dr. No has not claimed any CCA on the property. Repayment of the note is required in equal annual instalments of $1, each year for the next nine years on January 2 of each year. Present value of the payments is approximately $T5,{l[} [at T96 rate]. Net rental income for EDGE is $E,. Required: Provide Dr. No with an analysis of the income that he must report in EDGE as a result of these activities. Provide reasons for all included items and iustifications for all excluded amounts