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What net income reported by denise ralph pursuant to ita

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Reference no: EM132774566

You are provided with the following amounts for Denise Ralph for the current? year:

  1. Net employment income? (ITA 5 to? 8) = $70,000
  2. Interest income? (ITA 12)? = $8,000
  3. Taxable amount of dividends? = $1,420
  4. Taxable capital gains? (ITA 38 to? 55) = $5,700
  5. Allowable capital losses? (ITA 38 to? 55) = $7,700
  6. RRSP deduction? (allowed pursuant to ITA? 60) = $12,500

Problem 1: Based on the? above, the net income reported by Denise Ralph pursuant to ITA 3 for the current year is? ________.

Choose the correct answer.

A. $72,620

B. $64,920

C. $80,320

Reference no: EM132774566

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