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For the 2023 taxation year, Cornish Inc., a CCPC, has net income of $ 667 comma 200. This is made up of $ 625 comma

For the 2023 taxation year, Cornish Inc., a CCPC, has net income of $ 667 comma 200. This is made up of $ 625 comma 400 of active business income earned in Canada and $ 41 comma 800 of taxable dividends from various Canadian public companies. It has been determined that $ 423 comma 300 of the active business income qualifies as M&P profits. In 2023, the company makes charitable donations to registered charities totalling $ 47 comma 100. At the beginning of 2023, the company has a 2021 non-capital loss balance of $ 60 comma 800. It intends to claim all of this balance in the 2023 taxation year

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