Exercise 14-1 Modified The Company operates two separate lines of business. 2020 2021 Fountain pens (192,000) 42,000 57,000 247,000 Professional accounting services Total net income for tax purposes Deduct: Loss carry forward NIL 289,000 Total axable income NIL ??? Non-capital loss carry forward (135,000) Determine the minimum taxable income for 2021 assuming: 1) there was no acquisition of control in either year; 2) there was an acquistion of control on Jan 1, 2021. 1) NO acq of control 2) Acq of Control 2021 2021 42,000 42,000 247,000 247,000 289,000 289,000