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.