Los Pasteles Verdes Ltd. ("the Company") has a fiscal year ending December 31. For the year ending December 31, 2020, the Company's income statement is as follows: Revenues Expenses: $950,000 Cost Of Goods Sold ($206,000) Administrative Costs (152,000) Amortization Expense (173,000) Increase in warranty reserves (32,000) Other Expenses (87,000) (650,000) Income Before Tax Expense $300,000 Income Tax Expense: Current Future Net Income Other Information: ($36,000) (12,000) (48,000) $252,000 1. During the year, $6,000 was spent on landscaping for its new facilities. For accounting purposes this was capitalized as an asset. The Company believes the work has an unlimited life and has decided not to amortize this balance. 2. The Company incurred legal costs to make amendments to its articles of incorporation in 2020. These legal costs totalling $9,500 were included in Other Expenses. 3. On January 1, 2020, the Company has UCC balances for its tangible assets as follows: Class 1 (4% CCA rate) Class 14.1 (5% CCA rate) $450,000 Nil