Consider the asset mix, based on fair market values, of each of the following three independent Canadian-controlled private corporations:
Corporation 1:
Janet incorporate her business in 2012 and has owned the business in its entirety up until now. The assets of the businesses are as follows:
Land and buildings used in an active business carried on in Canada	1,810,000
Accounts Receivable	200,000
Long-term investments	400,000
100% Shares of Janna Ltd., a small business corporation	600,000
Mortgage on Building and Land for offices	300,000
	3,310,000
Corporation 2:
David purchased Cecil Inc. in March 2016 and has been the sole owner of the business since acquiring it. The assets of the business are as follows:
Accounts Receivable	150,000
Equipment used in an active business carried on in Canada	500,000
Building	1,200,000
Land	600,000
Shares (< 1% of issued shares) of Jonathan Ltd., a public corporation	270,000
Accounts Payable	250,000
Mortgage on Land and Building	700,000
	3,670,000
Corporation 3:
Sumar incorporated a business in January of 2015 and has been the sole owner of the business since incorporation. The assets for the business are as follows:
Accounts Receivable	240,000
Investments held for sale	300,000
Shares of Ethan Ltd., a wholly owned small business corporation	900,000
Accounts Payable	300,000
Required:
Indicate which of the above three corporations satisfy or do not satisfy all of the conditions in the definition of a qualified small business corporation, supporting your conclusions with the facts given above and if not a QSBC. Indicate steps to achieve such status.