IVY Inc., is a CCPC and reported accounting net income after tax of $425,000 with tax expense of $70,000. Included in the company's financial statements is the following information:

 Amortization expense - $52,000

 Bank charges - $3,000

 Interest & penalties on HST - $800

 Capital gains (accounting) totaled $60,000

 Salaries & Wages - $97,000 

Meals & entertainment - $12,000 

Commission expense - $10,000

 Charitable donations - $10,000 (all to registered charities)

 Dividends received from taxable Canadian controlled corporations - $100,000 

You have correctly calculated capital cost allowance for the year of $57,000. The company has a net capital loss carry forward balance of $42,000 available at the beginning of the tax year.

 1) Compute minimum net income for tax purposes (Division B)

 2) Compute minimum taxable income (Division C)

 3) Compute the net capital loss carry forward balance at the end of the tax year.