Using Profile software, Please prepare $2023$ personal tax return PLS SAVE THE FILE UNDER YOUR NAME WHEN YOUSEND TO ME OR YOU WILL LOSE MARKS.Taxpayer informationTeo Sung SIN $999999999$Address: $20300161$ Ave $,$ Edmonton, AB T$5$X $4$L$7$Phone Number: $(780)9651111$Born: Sep $1,1980$Marital status DivorcedResident of AlbertaCitizenship : CanadianTeo Sung doesnt own foreign property at any time in the year with a total cost of more than CAN$$100,000$Have Three children living with him; Lucy $($DOB Sep $20,2011)$ and Sandy $($born June $6,2010),$ and John $($ DOB May $12019).$Tax Information:Teo Sung has the following property incomeNon$-$ eligible Dividends from XYZ LTD $=$ $$10,000$Interest income from BMO Bank of Montreal Bank $=$ $$100$During the year Teo Sung made tax installments of $$200$ every month during the calendar year.Teo Sung has consultation firm as a sole proprietorship with trade name of tax is mine which isconsider a home based business.Industry code: chose the a appropriate codeGST number $999999999$RT$0001$The following financial information listed below about the business which needs to be entered inT$2125$ STATEMENT OF BUSINESS ACTIVITIES Accounting fees $$8,100$ Advertising Exp $($Note $1)$ $$3,000$ Insurance Exp $($Note $2)$ $$2,300$ Bank charges $($Note $3)$ $$2,250$ Meals and entertainment $$5,150$ Office supplies $($Note $4)$ $$1,340$Instructor: Dr$.$ Akram Abubaha, DBA, CPA, CGA, CMA $($IMA$),$ MBA, CCP$,$ IFICBUSD $2006$ Norquest College$-$ Prepared $2024$ by Dr$.$ AbubahaNo distribution or use allowed without written permission. Telephone, internet and fax $$1,560$ Travel Exp $($Note $5)$ $$6,230$ Revenue $$113,000$Note $1$: Advertising includes the following:Golf Membership $$1,000$Advertising in KIJIJI $$2,000$Note $2$: Insurance expense includes the following:Insurance premiums $-$ business insurance $ $1000$Insurance premiums life insurance for Teo Sung$$1,300$The life insurance was required for loan from BMO BANK before they approve the line of creditfor business.Note $3$: Interest charges include interest on late payroll filing of $$100.$Note $4$: Included in office supplies is MAC purchased on Sep $1,$ of the current year for $$800.$Note $5$: Included in travel expenses is $$1800$ ticket for flight Hawaii for personal useNote $6$: Teo Sung does his business in home. The basement has a square footage of $800$ and thetotal square footage of the home is $1,800.$ The following is a list of the home expenses:Heating cost $$1,540$Electricity $$1,120$Insurance from TD $ $740$Mortgage interest from TD $$5,000$Mortgage principal payments $$7,000$Property taxes city of Edmonton $$1,400$Over the years, Teo Sung invested in securities; he also calculated the adjusted cost base $($ACB$)$for any dispositions of securities for the year. He has provided you with the followinginformation Infinity shares $1$: $700$ shares of infinity consulting; originally purchased in $2008$; soldon January $5$ of the current year; Proceeds of disposition $=$ $$35,000$; ACB $=$ $$38,000$;Outlays and expenses $=$ $$1240$ Smart share $2$: shares of Smart Inc. were purchased as follows:$500$ Smart Inc. shares sold on August $10$ of the current year for proceeds of dispositionof $$12,500$; Outlays and expenses $=$ $$700$ ABC company share $3$: $100$ shares of ABC Corp.; purchased in $2012$; sold on Sep $1$of the current year; POD $=$ $$6,500$; ACB $=$ $$4,340$; Outlays and expenses $=$ $$100$Instructor: Dr$.$ Akram Abubaha, DBA, CPA, CGA, CMA $($IMA$),$ MBA, CCP$,$ IFICBUSD $2006$ Norquest College$-$ Prepared $2024$ by Dr$.$ AbubahaNo distribution or use allowed without written permission.Year Transaction Number of Shares Cost $($Proceeds$)$ perShare$2012$ Purchase $100$ $$20\mathrm{.}002013$ Purchase $200$ $$22\mathrm{.}002014$ Purchase $300$ $$21\mathrm{.}002015$ Purchase $200$ $$25\mathrm{.}00$On November $1,$ of the current year, Teo Sung sold his yacht for $$19,000$ which heoriginally purchases for $$12,000$ in $2020.$Teo Sung received the following sources of income during the year:Employment income from ABC school employment earnings $=$ $$60,000,$ maximum CPP andEI contributions made, income tax deducted $=$ $$10,000.$A company car is provided all year. The original cost of the car was $$19,000($including GST$)$but its depreciated value at January $1$ of the current year is $$15,000.$ During the year, ABCcompany paid $$7,800$ operating expenses for the car. He drove it $36,000$ kilometers in thecurrent year, of which $20,000$ kms were for personal purposes and $16,000$ kms were foremployment purposes.Teo Sungs prior year T$1$ indicates the following RRSP information: Unused RRSP deductionroom on December $31$ of the prior year $=$ $$20,000,$ Prior year earned income $=$ $$65,000.$ On Sep$1$ of the current year Teo Sung made a $$20,000$ RRSP contribution to his RRSP plan at BMOBank.During the year, Teo Sung paid their babysitter who took care of his kid for $17$ weeks, SawsanFrank $($SIN $700331555)$ and paid her $$4,650,$ per child for the babysitting.Teo Sung owns a rental property located at $11230123$ Ave, Alberta, G$4$R $3$N$7.$ The rentalbuilding was originally purchased in $2010$ for $$235,000.$ As at December $31$ of the prior year, theUndepreciated Capital Cost of the rental building is $$205,475.$ For the current year, Teo Sungprovided you with the following information: $($ enter information on T$776)$ Rental income $$15,000$ Property tax $$1,200$ Insurance paid $$1,700$ Mortgage Payment $$12,100$ Mortgage interest payments $$4,525$ Repairs and Maintenance $$2,100$Medical Expenses: Medical expenses in the current year were as follows: $$5,000$ paid June $1,2023$Charitable Donations: Teo Sung donated $$7,100$ to life for relief Canada in