KM Ltd Is a Canadian-Controlled Private Corporation, Operating a Small Gift

KM Ltd. is a Canadian-controlled private corporation, operating a small gift
store in Vancouver. The company has a December 31st year-end. KM's financial statements reported net income before taxes of $210,000 in 20X0.
Financial information relating to 20X0 is as follows:
Land adjacent to the gift shop was purchased with a $75,000 bank loan during
the year to allow for an outdoor sales area during warm weather. Interest expense on the loan for the year was $9,600, and the appraisal fees to finance the loan wa
$1,000. Both the interest and the appraisal fees were expensed by KM.
The company hired a contractor to landscape the land. The $5,000 bill for the
landscaping was paid in full during the year and capitalized on the Balance Sheet Amortization expense of $21,000 was deducted during the year. Total CCA for
the year of $16,000 was accurately recorded in the tax accounts, but was not transferred to the financial statements.
During the year, a new display case worth $2,000 was purchased and expensed on the books.
The following were also expensed during the year:
On December 30th, KM's president announced a bonus to be paid to the
company's key employee in the amount of $5,000, which was expensed that day. The employee will receive the bonus in 20X1 in equal payments of $2,500, to be issued on January 30th and July 30th.
Required:
Determine KM Ltd.'s net income for tax purposes for 20X0.