Julstan Multi-Enterprise Limited (JML) is a Canadian-controlled private corporation. It has operated with a December 31 year-end. At its December 31, 2013 tax year-end, the balance in its capital dividend account was nil, with no negative amounts carried for future offset.

The following transactions occurred in the indicated taxation years thereafter:

May 24, 2014: sale of shares held in a public corporation for proceeds of $48,000; the shares had cost $72,000 and JML paid a sales commission of $2,000

June 30, 2015: acquisition of an unlimited-life franchise for $49,000

August 20, 2016: received $25,000 as a dividend from the capital dividend account of a wholly owned subsidiary

October 31, 2017: sold the following assets pertaining to the franchise

	Proceeds of Disposition	Original Cost	UCC	Selling Costs
Investments	$ 36,000	$47,000	n/a	$1,000
Land	40,000	26,000	n/a	2,000
Building	118,000	92,000	87,000	6,000
Equipment	12,000	17,000	10,500	Nil
Franchise rights	55,000	49,000	31,500	Nil
Goodwill	30,000	Nil	Nil	Nil

June 9, 2018: received $100,000 from a life insurance policy on the life of a key employee; the corporation had paid total premiums of $19,000 on the policy

July 22, 2019:elected to pay a dividend of $75,000 out of the capital dividend account

Required:

Compute the balance in JML’s capital dividend account at December 31, 2019 (Show all calculations)