Irvin Co. is in the business of providing interior design and renovations to persons who acquire homes with the intent of remodeling and then selling the home for a potential profit. Irvin Co. did great business for a number of years, during which Irvin Co.'s 2017 and 2018 results were as follows (net of all available deductions): 2017 2018 Net income for tax purposes $120,000 $155,000 Taxable capital gains (included in NITP) $10,000 $13,000 In 2019, Irvin Co. decided to cut out the middleman and acquire the homes themselves. The economy quickly took a turn for the worse and Irvin Co. lost a considerable amount of income the 2019 taxation year of operation. The 2019 results were as follows: Gross design and renovation revenue $30,000 Expenses $300,000 Taxable capital gain on sale of land $5,000 Allowable capital loss on sale of home $40,000 Donations (included in expenses) $30,000 Irvin Co. also has a wholly owned subsidiary, Tom Co., which had been performing well for the 2019 year. To help with the cash flow issues Irvin Co. has been having, Tom Co. paid a $100,000 dividend to Irvin Co. Tom Co. did not receive a dividend refund on the payment of this dividend. Required: Calculate the net income for tax purposes, taxable income, and any carry forwards balances, including the utilization of these balances for prior years, for Irvin Co