Gardner Distributing Company, a Canadian controlled private corporation, was established ten years ago by Mr. Hugh Gardner. Its only business activity is the distribution of specialty gardening products to retailers across Canada. Mr. Gardner is a Canadian resident and is the sole shareholder of the Company. The Company has a fiscal year ending on December 31, and, for 2020, the Company's accountant produced the following Income Statement:

Sales Revenue $1,916,400

Cost Of Goods Sold ( 940,000)

Gross Profit $ 976,400

Operating Expenses:

Selling And Administration ($315,000)

Amortization Expense ( 47,000)

Charitable Donations ( 15,000) ( 377,000)

Operating Income $ 599,400

Other Income And Losses:

Eligible Dividends Received $ 27,000

Loss On Sale Of Truck ( 19,000)

Gain On Sale Of Investments 7,000 15,000

Pre-Tax Accounting Income $ 614,400

Other information:

1. The Company had depreciable assets with the following undepreciated capital cost (UCC) balances at the beginning of its 2020 taxation year:

UCC

Class 3 (5%) $726,000

Class 8 (20%) 472,000

Class 10 (30%) 22,000

The balance in Class 10 reflects a single truck that was used for deliveries. It had an original cost of $38,000 and a net book value for accounting purposes of $29,000. It was sold in 2020 for $10,000, and replaced with a leased truck.

The only other transaction involving depreciable assets during the year was the acquisition of $82,000 in Class 8 assets.

2. On January 1, 2020, the Company had an Eligible RDTOH balance of $14,000 and a Non-Eligible RDTOH balance of nil.

3. On January 1, 2020, Gardner has a GRIP balance of $132,500. During 2019, the Company designated $9,600 of its dividends as eligible.

4. For 2019, Gardner had ADJUSTED Aggregate Investment Income of $24,680. Its Taxable Capital Employed In Canada was $4,672,000 for 2019.

5. During 2020, the Gardner Distributing Company paid $17,000 in dividends to Mr. Gardner. It is the policy of the corporation to only designate dividends as eligible to the extent that a refund will be available on their payment.

6. The investments that were sold during the year had been purchased for $93,000. They were sold for $100,000.

Required: Show all of the calculations used to provide the following required information, including those for which the result is nil.

A. Determine Gardner Distributing Company's minimum Net Income For Tax Purposes and Taxable Income for the year ending December 31, 2020.

B. Determine Gardner Distributing Company's Part I Tax Payable for the year ending December 31, 2020.