Exhibit III Tax-Related Details 2020 2020 5. The company's tax rate is 30%. The income statement tax expense is calculated with the taxes payable method. 6. The office and general expense account contains $85,000 in meals and entertainment. 7. There are $175,000 in nondeductible expenses included in the accounting and consulting fees line item on the income statement. 8. The net book value (NBV) and undepreciated capital cost (UCC) for the capital assets are as follows: NBV UCC 2019 2019 Land $ 1,250,000 $ 1,250,000 n/a n/a Buildings 4,500,750 4,650,775 $ 2,767,211 $ 3,255,543 Furniture and fixtures 650,000 693,333 412,533 485,333 Machinery and equipment 12,567,000 13,404,800 7,975,856 9,383,360 Leasehold improvements 2,456,000 2,701,600 1,607,452 1,891,120 $21,423,750 $22,700,508 $12,763,052 $15,015,356 9. There were no capital asset additions or dispositions during the year. Required Prepare a report for Sharmila. IFRS is the appropriate accounting standards for CTAI. Exhibit III Tax-Related Details 2020 2020 5. The company's tax rate is 30%. The income statement tax expense is calculated with the taxes payable method. 6. The office and general expense account contains $85,000 in meals and entertainment. 7. There are $175,000 in nondeductible expenses included in the accounting and consulting fees line item on the income statement. 8. The net book value (NBV) and undepreciated capital cost (UCC) for the capital assets are as follows: NBV UCC 2019 2019 Land $ 1,250,000 $ 1,250,000 n/a n/a Buildings 4,500,750 4,650,775 $ 2,767,211 $ 3,255,543 Furniture and fixtures 650,000 693,333 412,533 485,333 Machinery and equipment 12,567,000 13,404,800 7,975,856 9,383,360 Leasehold improvements 2,456,000 2,701,600 1,607,452 1,891,120 $21,423,750 $22,700,508 $12,763,052 $15,015,356 9. There were no capital asset additions or dispositions during the year. Required Prepare a report for Sharmila. IFRS is the appropriate accounting standards for CTAI