Complete a T2 jacket (the first 8 pages of the corporation tax return).

1.Ignore the calculation of provincial income taxes.

2.Assume income from distributing net of CCA is $ 214,000 (rather than $220,000 noted in the problem).

3.Use 864919642 RC0001 as the business number for the corporation.

Problem 15 ITA: 123-127; 129, 186 Multi Enterprises Ltd. is a Canadian-controlled private corporation whose fiscal period coincides with the calendar year. For the year 2020, the company's taxable income was calculated as follows: $220,000 11,000 20,000 17,000 9,000 4,000 Income from distributing net of CCA Dividends from taxable corporations: (a) connected corporation, dividend payment triggering a dividend refund from its non-eligible RDTOH of $2,750 to the wholly owned subsidiary (b) non-connected corporation (portfolio dividends) (eligible) Taxable capital gain (non-active)... $29,000 Allowable capital losses 12,000 Royalties... Recapture of CCA on disposal of sales equipment Income from rental of an apartment building (no full-time employees and tenants provide virtually all of their own services) Interest charged on accounts receivable... Net income for tax purposes Less: net capital losses carried over $ 7,000 non-capital losses carried over 10,000 donations 26,000 dividends from taxable Canadian corporations 31,000 Taxable income 14,000 5,000 $300,000 74,000 $226,000 At December 31, 2019, there was a nil balance in both the eligible and non-eligible refundable dividend tax on hand accounts. The company paid $72,000 in non-eligible dividends during 2020 to individual shareholders. The company is not associated with any corporation and has a permanent establishment in New Brunswick You have been asked to: Problem 15 ITA: 123-127; 129, 186 Multi Enterprises Ltd. is a Canadian-controlled private corporation whose fiscal period coincides with the calendar year. For the year 2020, the company's taxable income was calculated as follows: $220,000 11,000 20,000 17,000 9,000 4,000 Income from distributing net of CCA Dividends from taxable corporations: (a) connected corporation, dividend payment triggering a dividend refund from its non-eligible RDTOH of $2,750 to the wholly owned subsidiary (b) non-connected corporation (portfolio dividends) (eligible) Taxable capital gain (non-active)... $29,000 Allowable capital losses 12,000 Royalties... Recapture of CCA on disposal of sales equipment Income from rental of an apartment building (no full-time employees and tenants provide virtually all of their own services) Interest charged on accounts receivable... Net income for tax purposes Less: net capital losses carried over $ 7,000 non-capital losses carried over 10,000 donations 26,000 dividends from taxable Canadian corporations 31,000 Taxable income 14,000 5,000 $300,000 74,000 $226,000 At December 31, 2019, there was a nil balance in both the eligible and non-eligible refundable dividend tax on hand accounts. The company paid $72,000 in non-eligible dividends during 2020 to individual shareholders. The company is not associated with any corporation and has a permanent establishment in New Brunswick You have been asked to