SEA LtdIs a Canadian-Controlled Private Corporation, Operating a Small Gift Store

SEA Ltd.is a Canadian-controlled private corporation, operating a small gift store in Kelowna.The company has a December 31st year-end.SEA's financial statements reported net income before taxes of $210,000 in 2020.
Financial information relating to 2020 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 fee to finance the loan was $1,000.Both the interest and the appraisal fee were expensed by SEA in 2020.
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 SEA's Balance Sheet.
During the year, a new display case worth $2,000 was purchased and expensed on the books.
Amortization expense of $21,000 was deducted during the year.Total CCA (following any adjustments) for the year was $16,000 and is not reflected in the financial statements.
The following were also expensed during the year:
$\begin{array}{|l|l|}\hline \text { Meals with clients } & \$ 1,400.00 \\\hline \text { Lawn mowing service } & \$ 1,000.00 \\\hline \text { Golf dues for employees } & \$ 5,000.00 \\\hline \text { A reasonable reserve for bad debt } & \$ 2,000.00 \\\hline\end{array}$
On December 30th, SEA's president announced a bonus to be paid to the company's key employee in the amount of $5,000, which was expensed on the books that day.The employee will receive the bonus in 2021 in equal payments of $2,500, to be issued on January 30th and July 30th.
Required:
Determine SEA Ltd.'s net income for tax purposes for 2020.