During the current taxation year, KT Ltd., a Canadian-controlled private corporation located in Nova Scotia earned $160,000 of active business income. In addition, the company made the following capital transactions:

Gain on sale of shares of a public corporation $ 48,000

Loss on shares of a public corporation (20,000)

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

Net capital losses $29,000

Non-capital losses 42,000

For the current taxation year of KT Ltd., calculate the following:

(a) Net income for income tax purposes

(b) Taxable income

(c) Net capital & non-capital losses balance at the end of the year