You are provided with the following amounts for Kristeen Flynn for the current year: -...
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Accounting
You are provided with the following amounts for Kristeen Flynn for the current year: - Net employment income (ITA 5 to 8 ) =$30.000 - Interest income (ITA 12) =$6,000 - Taxable amount of dividends (ITA 12) =$2,600 - Taxable capital gains (ITA 38 to 55) =$2,000 - Allowable capital losses (ITA 38 to 55 ) =$3,000 - Interest expense (bank loan for investment purposes) =$2,000 - Investment counsel fees =$550 - RRSP deduction (allowed pursuant to ITA 60 ) =$9,500 Based on the above, the "net property income" reported by Kristeen Flynn pursuant to ITA 3(a) for Choose the correct answer. A. $6,050 B. $28,460 C. $7,600 D. $8,600
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