During the current taxation year, KT Ltd., a Canadian-controlled private corporation located in Nova Scotia earned $213,000 of active business income. In addition, the company made the following capital transactions:

Gain on sale of shares of a public corporation	$	60,000
Loss on shares of a public corporation		(26,000)

At the end of the previous taxation year, the following unused losses were available for carry-forward:

Net capital losses	$	(35,000)
Non-capital losses		(60,000)