Determine which, if any, of the Canadian controlled private corporations (CCPCs) mentioned below are associated. You must explain clearly your reasoning. You must give specific section, subsection and paragraph (where applicable) references from the Income Tax Act to support your answer. When giving references be specific. Don't just list multiple references! Selected parts of the Act are provided after the question. There are no marks for commenting on corporations which are not associated. Note: you may wish to draw a diagram to help you; however, there will be no marks awarded for your diagram. Also note: you will lose 1 mark for every incorrect association that you claim exists. All information about the percentage of shares owned represents both votes and fair market value (except where otherwise noted). Assume all unrelated persons deal with each other and with the parties named below at arm's length. Mr. Chen owns 60% of the shares of 456789 Inc. The remaining shares of 456789 Inc. are owned by unrelated persons Mrs. Chen (Mr. Chen's spouse) owns 40% of Chen Corp (CC) and 35% of Chen Family Investments (CFI). The remaining shares of CC are owned by unrelated persons. Mr. Chen owns 40% of CFI. The remaining shares of CFI are owned by unrelated persons Chen Corp (CC) owns 40% of Oxen Holdings. The remaining shares of Oxen Holdings are owned by unrelated persons Mr. Chen owns 70% of Helium Corp. The remaining shares of Helium Corp. are owned by unrelated persons . . . . . Determine which, if any, of the Canadian controlled private corporations (CCPCs) mentioned below are associated. You must explain clearly your reasoning. You must give specific section, subsection and paragraph (where applicable) references from the Income Tax Act to support your answer. When giving references be specific. Don't just list multiple references! Selected parts of the Act are provided after the question. There are no marks for commenting on corporations which are not associated. Note: you may wish to draw a diagram to help you; however, there will be no marks awarded for your diagram. Also note: you will lose 1 mark for every incorrect association that you claim exists. All information about the percentage of shares owned represents both votes and fair market value (except where otherwise noted). Assume all unrelated persons deal with each other and with the parties named below at arm's length. Mr. Chen owns 60% of the shares of 456789 Inc. The remaining shares of 456789 Inc. are owned by unrelated persons Mrs. Chen (Mr. Chen's spouse) owns 40% of Chen Corp (CC) and 35% of Chen Family Investments (CFI). The remaining shares of CC are owned by unrelated persons. Mr. Chen owns 40% of CFI. The remaining shares of CFI are owned by unrelated persons Chen Corp (CC) owns 40% of Oxen Holdings. The remaining shares of Oxen Holdings are owned by unrelated persons Mr. Chen owns 70% of Helium Corp. The remaining shares of Helium Corp. are owned by unrelated persons