Gloria Limited is a CCPC corporation which distributes computers in Quebec, Ontario and the United States. For the year ended September 30, 2022 its accounting income was as follows:

Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,200,000

Cost of sales and other expenses including CCA . . . . . (725,000)

Operating profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 475,000

Other net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198,500

Net income before taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . 673,500

Provision for taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (200,725)

Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 472,775

Selected Additional Information

(1) Other income includes: Dividends from Public corporation - 1 % interest eligible $ 25,000 Dividends from 60% own subsidiary Ineligible (Note 7) $ 20,000 Rental Income (Note 1) $43,000 - Interest T Bills (investment of excess cash from business) 22,500 - bonds of connected, not associated corporations 16,000 Profit on sale of land that was held as inventory 41,000 Foreign interest income, before withholding taxes of $10,000 (note 2) 31,000

(2) Gloria Limited has a non-capital loss carry-forwards of $43,545.

(3) Donations to registered charities were $50,000 (not included in calculating Net Income)

(4) Sales include capital gains of $90,000 on in-active assets and Foreign income of 60,000 (Canadian dollars) before withhold tax of $15,000 (Canadian dollars)

(5) Gloria has Net capital losses from 2020 of $18,000.

(6) Gloria allocated $30,000 of it's Small Business deduction limit to its subsidiary

(7) The 60% owned subsidiary received a dividend refund of $4,000

(8) The balance in the Refundable Dividend Tax on Hand (non eligible), on September 30, 2021, was $31,000, before the Dividend Refund (non-eligible) of $17,000 for the fiscal 2021 year end.

Required: Calculate Division B income and Taxable income.