Gardner Distributing Company, a CCPC that uses a December 31 taxation year end, was incorporated ten years ago by Mr. Hugh Gardner, its sole shareholder to carry on a business of distributing specialty gardening products to Canadian retailers. The Company's accountant prepared the following Income Statement:

Sales $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)

Business Income $ 599,400

Other Income and Losses:

Eligible Dividends Received $ 27,000

Loss on sale of a 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 property with the following UCC balances as of January 1, 2021:

UCC

Class 3 (5%) $726,000

Class 8 (20%) 472,000

Class 10 (30%) 22,000

The UCC balance in Class 10 reflects a single truck that was used for deliveries. It had a capital cost of $38,000 and a carrying value for accounting purposes of $29,000. It was sold in 2021 for $10,000, and replaced with a leased truck.

The only other 2021 transaction involving depreciable property was the purchase of additional Class 8 property for $82,000.

2. On January 1, 2021, the Company had an Eligible RDTOH balance of $14,000 and a Non-Eligible RDTOH balance of nil.

3. On January 1, 2021, Gardner has a GRIP balance of $132,500. In 2020, the Company designated $9,600 of dividends that it paid as eligible.

4. In 2020, Gardner had ADJUSTED Aggregate Investment Income (AAII) of $24,680 and Taxable Capital Employed In Canada (TCEC) of $4,672,000.

5. In 2021, the 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 generated on their payment.

6. Investments with an ACB of $93,000 were sold in 2021 for $100,000.

Required: Show all supporting calculations used to provide the information requested, including those for which the result is nil. Specifically determine the following for the company:

A. The minimum 2021 Net and Taxable Income.

B. The 2021 Part I Income Tax Payable.

C. The 2021 refundable portion of Part I income tax on investment income.

D. 2021 Part IV Tax Payable.

E. GRIP balance on December 31, 2021.

F. The Eligible and Non-Eligible RDTOH account balances on December 31, 2021.

G. The 2021 eligible and non-eligible dividend refunds.

H. The 2021 federal Tax Payable. This should include Part I IV Tax Payable, net of any dividend refund.