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During the 2019 year, Ricky has net employment income of $55,000 and interest income of $6,000....

During the 2019 year, Ricky has net employment income of $55,000 and interest income of $6,000. Capital gains for the year total $37,894, while capital losses are realized in the amount of $8,774. He has deductible child care costs of $1,200 and he is able to make a $5,000 deductible RRSP contribution. He also has a business loss of $175,000.

Required: Calculate Ricky’s 2019 Net Income for Tax Purposes (Division B income). Indicate the amount and type of any loss carry overs that would be available at the end of the year.

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