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8:49 LTE Doc2.docx PC Inc. needs to prepare its corporate income for first year of operations ending on November 30, 2021 The following list of items resulted in differences between PC counting income and taxable income a. Deducted in the calculation of accounting income for the 2001 year is meals and entertainment expense in the amount of $24.750. Note that any of this cost is deductible for purpose b. PC Inc.lased part of its building to ABA Commons year operating lease starting September 1.2021. There is $34.130 per month. AGA Company said 12 months' rest in advance to PC con September 1, 2021 PC Inc. will report the entire amount of eclected from ASA Company in the calculation of its table income for the 2001 Cinc. only included the rent earned during the 2021 year in the action of accounting income d. Deducted in the calculation of accounting income was vironmental fines levied by the provincial government in the mount of 57.100 During 2021. PC Inc purchased property and coment in the amount of $1.536,000. PC Inc did not dispose of any of these long-term during 2021 L. PC Inc deducted depreciation expense of 5307.200 in the calculation of accounting income for the 2021 year PC Inc will claim capital cost allowance of 5230.480 in the calculation of its taxable income PC Inc. is a publicly accountable enterprise that solows IFRS PC Inc. had accounting become of 782.490 for the 2021 yea PC Inc. has a corporate tax rate of 35% PC Inca c. is a publicly actountable enterprise that follows IFRS PC Inc had accounting income of $781.400 for the 2021 year. PC Inc. has a corporate tax rate of 35% Required: 1. Calculate taxable income and taxes payable for the 2021 year. A mai 2. Determine the amount that will appear on the November 30, 2021 statement of financial position for defeered the marke Prepare the journal entries to record income for 2021. mars 4. Prepare the income tax expense section of the income statement for 2021 beginning with the line income before income to marks