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Hello, please help with my corporate tax cantax assignment ACC 642 CANTAX CANTAX T2 PROBLEM NO.2 (REVISED) Due Date Per Professor Bradford Corp (insert your

Hello, please help with my corporate tax cantax assignment

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ACC 642 CANTAX CANTAX T2 PROBLEM NO.2 (REVISED) Due Date Per Professor Bradford Corp (insert your full name). is a manufacturer and distributor of computers. It is a CCPC and for the year ended December 31, Current Year (2019), its Accounting financial statements showed net income of $400,000, after a tax provision of $100,000. Bradford own 55% of Sharp Inc., which makes computer parts. Included in the current year income are: Depreciation expense 50,000 Donations to registered charities 30,000 (Non-Eligible)Accounting gain from the sale of shares in a Canadian company. Bought in 2009 for $30.000 and sold in the 2019 for $90,000. 60,000 Loss on sale of an automobile. Class 10.1 (4,000) (NBV-$12,000; Proceeds-$8,000) Meals/Entertainment expenses 18,000 Non-Eligible Taxable dividends-from taxable Canadian corporations 35,000 Non-Eligible Taxable dividends from Sharp Inc., a Canadian Corp. 11,000 Other information: . UCC balances at Dec 31, last year Class 3 $150,000 8 45,000 10.1 (auto) 13,000 Sharps Inc. reported taxable income of $70,000, all of which is ABI, for the year ended December 31, 2019. Bradford wants to ensure that Sharps Inc., pays the least amount of tax possible; Sharps Inc. had non-eligible refundable dividend tax on hand of December 31, last year, of $50,000 and paid out (Non- Eligible) $20.000 in cash dividend in 2019 Bradford has Business Loss Carry forward from the year 2017 of $10,000. Bradford has a Non- Eligible RDTOH of $25,000 at December 31, last year, and paid Non-Eligible $70.000 in cash dividend in 2019. Eligible RDTOH Opening Balance was Zero. REQUIRED: Prepare Bradford's 2019 tax return, minimizing federal tax payable, using CANTAX software. Please print the following Schedules only: 1. Tax summary (this will be cover page) 2. T2.S1 - Reconciliation of taxable income NOTE: Please add your name to the corporation name i.e.: Bradford Corp., (Student Name)

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