2. Fairway Inc. has a December 31 year end. On September 1, 2022, all of the Company's Shares are acquired by a new owner. During the period January 1, 2022 through August 31, 2022, the company has an operating loss of $136,000. On August 31, 2022, the Company has a net capital loss carry forward of $182,000 [(1/2)($364,000)]. In addition, the Company has the following assets

Asset Type	Cost Base or Capital Cost	UCC	Fair Market Value
Non-Depreciable Depreciable	$913,000 530,000	N/A $412,000	$1,120,000 752,000

Required:

Advise the Company with respect to the most appropriate elections to be made prior to the acquisition of control and explain your results.