Company Corporation 2019 2020 Cash 400 500 Cost of Goods Sold 600 700 Debt (LT) 5000 5300 Depreciation 300 300 Dividends 325 350 Interest Expense 400 450 Inventories 1500 1800 Investments (ST) 1250 1350 Loans from Bank (ST) 450 450 Payables 3000 2600 Property, Plant, Equipment 4800 5450 Receivables 600 550 Research and Development 250 250 Revenues 6900 7350 Salaries 3000 3000 Sales and Distribution 400 350 Shareholders' Equity 100 1300 * All values given are in 1000s of dollars. Asset values are net of depreciation. 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