PROBLEM 1 (10 marks) Selected information from the financial records of Bhojani Limited is shown below Net income (accounting) Provision for income taxes 2021 335,300 Charitable donations Financial accounting expenses include: 192,000 10,000 - Amortization 201,000 -Landscaping costs paid. 7,000 Warranty provision 3,200 Financial accounting income included: - Eligible dividends from Canadian corporations 14,000 - Non-eligible dividends from Canadian 21,700 Accounting gain on the disposition of Class 8 8,000 corporations assets ADDITIONAL INFORMATION: Bhojani Limited received $5,000 in interest from foreign corporations was subject to withholding tax of $1,250. 98% of Bhojani Limited's taxable income is earned in Canada. The opening UCC balance of Class 1 (separate class-6%) was $540,450. The opening UCC balance of the Class 8 assets (equipment -20%) was $82,300. Due to a moderation plan, the company disposed of all of its Class 8 assets for proceeds $102,000. The net book value of these assets was $94,000 and the capital cost of the assets was $99,000. Bhojani Limited acquired another building for $65,000 and placed it in a separate Class 1 (4% CCA rate). Req: calculate Net Income for tax purposes TAA