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How much is sari business net income for tax purposes

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Question - Sari ran a proprietorship that generated $75,000 in profits in 2021. Included in these profits were: a) $10,000 - amortization expense; b) $5,000 - reasonable bad debt expense; c) $55,000 - cost of goods sold (closing inventory at market value); and $8,000 - meals and entertainment with clients. The business' capital cost allowance has been accurately calculated at $8,500 for the year. How much is Sari's business net income for tax purposes?

Reference no: EM133168072

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