Cranston Inc. is a Canadian-Controlled Private Corporation (CCPC). During the year, Cranston Inc. has correctly calculated net income for tax purposes and taxable income as follows: In addition, Cranston Inc. indicates the following: - Cranston Inc. is associated with one other corporation and, as such, is allocated $250,000 of the annual business limit for the prior year and current year; - In the prior year, Cranston Inc. and its associated group of corporations had Adjusted Aggregate investment income of $40,000 and Taxable Capital Employed in Canada of $1,750,000; - Cranston Inc. paid taxable dividends to its shareholders in the amount of $67,500. Of this total, $32,500 were designated as eligible; - At the end of the previous taxation year, the GRIP balance for Cranston Inc. was $24,320; and - Cranston Inc. declared $20,000 of eligible dividends to its shareholders in the prior year