You are provided with the following amounts for Wendy Riley for the current year: Net...

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You are provided with the following amounts for Wendy Riley for the current year: • Net employment income (ITA 5 to 8) = $70,000 Interest income (ITA 12) = $7,700 Taxable amount of dividends = $1,420 Taxable capital gains (ITA 38 to 55) = $6,100 Allowable capital losses (ITA 38 to 55) = $8,100 • RRSP deduction (allowed pursuant to ITA 60) = $14,500 Based on the above, the net income reported by Wendy Riley pursuant to ITA 3 for the current year is You are provided with the following amounts for Wendy Riley for the current year: • Net employment income (ITA 5 to 8) = $70,000 Interest income (ITA 12) = $7,700 Taxable amount of dividends = $1,420 Taxable capital gains (ITA 38 to 55) = $6,100 Allowable capital losses (ITA 38 to 55) = $8,100 • RRSP deduction (allowed pursuant to ITA 60) = $14,500 Based on the above, the net income reported by Wendy Riley pursuant to ITA 3 for the current year is

Answer rating: 100% (QA)

Net Employment Income 70000 Interest Income ... View the full answer