Cherry Lane Farms (CLF) was incorporated in 2010 by Gina who invested $1,000 into all the common shares of CLF.

As of December 31, 2020, CLF has the following balance sheet amounts:

The investment in Tree Ripened Peaches Inc (TRP), a CCPC, was made two years ago. It is 25% owned by CLF and uses 40% of its assets in a Canadian active business.

Assets Cost FMV Cash 4,500 4,500 Marketable Securities 300,000 700,000 Accounts Receivable 800,000 780,000 Inventory 920,000 920,000 Prepaid Expenses 1,000 1,000 Investment in Tree Ripened Peaches Inc. 1,000 100,000 Fixed assets 140,000 150,000 Goodwill (class 14.1 - 200,000 2,166,500 2,855,500 Liabilities and Shareholders' Equity Accounts payable and accrued liabilities 600.000 Loans payable 400,000 Future income taxes 100,000 Share capital 1.000 Retained earnings 1,065,500 2, 1 66,500