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4. Compute full (combined federal and provincial) corporate taxes for Company for both 2019 and 2020. Here are two additional facts about Company Corporation: 1)

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4. Compute full (combined federal and provincial) corporate taxes for Company for both 2019 and 2020. Here are two additional facts about Company Corporation: 1) It has been designated by the Canada Revenue Agency as a small corporation. 2) It is based in Prince Edward Island. As such it pays only 10% federal and 3.5% provincial tax on the first $500,000 it ears, and then pays 15% federal and 16% provincial tax on the remainder. 5. What was the addition to retained earnings for 2020? Use the following information to answer all five questions below.. Company Corporation 2019 Cash 400 Cost of Goods Sold 600 Debt (LT) 5000 Depreciation 300 Dividends 325 Interest Expense 400 Inventories 1500 Investments (ST) 1250 Loans from Bank (ST) 450 Payables 3000 Property, Plant, Equipment 4800 Receivables 600 Research and Development 250 Revenues 6900 Salaries 3000 Sales and Distribution 400 Shareholders' Equity 2020 500 700 5300 300 350 450 1800 1350 450 2600 5450 550 250 7350 3000 350 1300 100 * All values given are in 1000s of dollars. Asset values are net of depreciation

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