Kinsmore Industries Ltd. is a CCPC. There are no associated corporations. The company manufactures small tools and also handles some of its own retail distribution. As all profits are earned in a province that does not have a special tax rate for manufacturing, the company does not bother with the M&P deduction.

The following aggregate income statement has been prepared to assist you in completing Kinsmores income tax return for the 2022 taxation year ending December 31:

Revenues from Operations $6,300,000 Expenses from Operations (5,640,000) Income from Operations $660,000 Canadian Source Interest Income 55,000 Eligible Dividends from Portfolio Investments 48,000 Accounting Income before Income Tax $763,000 All of the revenues of Kinsmore are earned in Canada in 2022 The expenses are all deductible for income tax purposes except for amortization expense of $1,250,000. Your calculations indicate that maximum CCA would be $1,350,000 and the company intends to claim this amount.

Other Information:

1. In 2022, a total of $97,000 in taxable dividends were paid to the shareholders of Kinsmore Industries. It is the policy of the company to maximize the designation of eligible dividends, without regard to the availability of a refund on their payment.

2. On January 1, 2022, the balance in both the Eligible and Non-Eligible RDTOH was nil.

3. At the beginning of 2022, Kinsmore has a GRIP balance of $42,500. In 2021, the company designated $31,300 of its taxable dividends paid as eligible.

4. In 2021, Kinsmores AAII was $23,000 and its taxable capital employed in Canada was $1,600,000.

Required:

A. Calculate Kinsmores minimum 2022 Net and Taxable Income.

B. Calculate Kinsmores minimum 2022 Part I Income Tax Payable.

C. Calculate Kinsmores refundable portion of Part I Tax for 2022.

D. Calculate Kinsmores 2022 Part IV Tax Payable.

E. Calculate Kinsmores Eligible and Non-eligible RDTOH at December 31, 2022

. F. Determine the December 31, 2022 GRIP balance.

G. Determine the amount of Kinsmore Industries Ltd.s dividend refund for 2022, showing separately the amounts related to eligible and non-eligible dividends.