It is Canada Income Tax, all information approved, thank you for help!

$ 100,000 $ 120,000 $ 20,000 $ 200,000 $ 40,000 Practice question: ACB of Partnership Interest Jan 1, Year 1, Partners Q, S and T form Partnership QST. Partners Q, S and T share 20%, 30% and 50% of profits and losses respectively. Partner Q: -Jan 1, Year 1: Partner Q contributed -May 1, Year 1: contributed -November 30, Year 1: withdraws Partner S: -Jan 1, Year 1: Partner S contributed -November 30, Year 1: withdraws Partner T: -Jan 1, Year 1: Partner T contributed QST Partnership income for Year 1: -Capital gain -Eligible dividends received -Net business income Required: 1) For each of the three partners' interests in QST Partnership: -ACB On Dec 31, Year 1 -ACB On Jan 1, Year 2 2) Amount each partner should include in Net Income for Tax Purpose of their Year 1 tax return? $ 400,000 $ 60,000 $ 80,000 $ 300,000 Notes Remember to write your supporting calculations, not just the final answer. 1) ACB of each partner: Partner ACB 12/31/Year 1 ACB 1/1/Year 2 Q S T Includes full capital gain 2) Net incone for tax purpose of each partner: Partner Net Income for Tax Purpose - Year 1 Q S T 1/2 taxable capital gain; dividends gross up $ 100,000 $ 120,000 $ 20,000 $ 200,000 $ 40,000 Practice question: ACB of Partnership Interest Jan 1, Year 1, Partners Q, S and T form Partnership QST. Partners Q, S and T share 20%, 30% and 50% of profits and losses respectively. Partner Q: -Jan 1, Year 1: Partner Q contributed -May 1, Year 1: contributed -November 30, Year 1: withdraws Partner S: -Jan 1, Year 1: Partner S contributed -November 30, Year 1: withdraws Partner T: -Jan 1, Year 1: Partner T contributed QST Partnership income for Year 1: -Capital gain -Eligible dividends received -Net business income Required: 1) For each of the three partners' interests in QST Partnership: -ACB On Dec 31, Year 1 -ACB On Jan 1, Year 2 2) Amount each partner should include in Net Income for Tax Purpose of their Year 1 tax return? $ 400,000 $ 60,000 $ 80,000 $ 300,000 Notes Remember to write your supporting calculations, not just the final answer. 1) ACB of each partner: Partner ACB 12/31/Year 1 ACB 1/1/Year 2 Q S T Includes full capital gain 2) Net incone for tax purpose of each partner: Partner Net Income for Tax Purpose - Year 1 Q S T 1/2 taxable capital gain; dividends gross up