Sari Ran a Proprietorship That Generated $75,000 in Profits in 2020.Included

Sari ran a proprietorship that generated $75,000 in profits in 2020.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?

A) $73,500
B) $75,000
C) $80,500
D) $89,000

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