Ltd. is a CCPC involved in the distribution of domestically produced laser products. For the taxation year ending December 31, 2022, its net income was made up of the following components. View the components of net income.

Active Business Income	$216,100
Dividends From Canadian Corporations:
Wholly Owned Subsidiary (All Non-Eligible)	107,900
Portfolio Investments (All Eligible)	55,600
Interest On Government Bonds	36,100
Taxable Capital Gains	57,400
Net Income	$473,100

On December 31, 2021, Vocal Ltd. has a GRIP balance of $58,800 and a nil balance in both the Eligible and Non-Eligible RDTOH. Vocal Ltd. paid no taxable dividends in 2021. In 2021, the corporation's AAII was $32,900 and its TCEC was $2 million.

View the taxable dividends information.

The taxable dividends paid to Vocal Ltd. by its wholly owned subsidiary in 2022 did not entitle the subsidiary to any dividend refund. The wholly owned subsidiary is allocated $200,000 of the annual small business limit. The remainder of $300,000 is allocated to Vocal Ltd. On October 1, 2022, Vocal Ltd. paid taxable dividends to its shareholders in the amount of $32,500. The corporation would like to pay the maximum amount of eligible dividends on which a dividend refund would be available.

Read the requirements.

Requirement A. Calculate the Part I Tax Payable.

In this step, calculate the taxable income.

Net income
Dividends
Taxable income

Part 2

Now, calculate the Part I federal taxable payable. (Round your answers to the nearest whole dollar. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

Taxable income
Base amount of Part I Tax
Federal tax abatement
Small business deduction
Additional refundable tax on investment income
General rate reduction
Part I federal tax payable

Part 3

Requirement B. Calculate the refundable portion of Part I Tax. (Round your answer to the nearest whole dollar.)

What is the Part I refundable tax payable?

Part 4

Requirement C. Calculate the Part IV Tax Payable. (Round your answers to the nearest whole dollar. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

Part IV tax on portfolio investments
Part IV tax on subsidiary dividends
Total Part IV tax

Part 5

Requirement D. Calculate the balance in the GRIP account on December 31,

2022.

(Round your answers to the nearest whole dollar. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

GRIP balance at the end of 2021
Taxable income
Income eligible for SBD
Aggregate investment income
Adjusted taxable income
Rate	72%
Subtotal
Eligible dividends received
Eligible dividends designated in 2021
GRIP balance at the end of 2022

Part 6

Requirement E. Calculate the balance in the Eligible and Non-Eligible RDTOH accounts on December 31,

2022.

(Round your answers to the nearest whole dollar. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

First, calculate the balance in the eligible RDTOH.

Opening balance
Part IV tax on portfolio investments
Eligible RDTOHDecember 31, 2022

Part 7

Now, calculate the balance in the non-eligible RDTOH. (Round your answers to the nearest whole dollar. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

Opening balance
Part I refundable tax
Non-eligible RDTOHDecember 31, 2022

Part 8

Requirement F. Calculate the amount of any dividend refunds resulting from the payment of eligible dividends. (Round your answer to the nearest whole dollar.)

What is the Part I refundable tax payable?

Part 9

Requirement G. Calculate the amount of any dividend refunds resulting from the payment of non-eligible dividends. (For an entry with a $0 balance, make sure to enter "0" in the input field.)

What is the amount of dividend refunds resulting from the payment of non-eligible dividends?

Part 10

Requirement H. Calculate the Federal Tax Payable (net of any dividend refund). (Round your answers to the nearest whole dollar.)

Part I tax
Part IV tax
Dividend refund
Federal tax payable

Part 11

Requirement I. Calculate the balance in the Eligible RDTOH and Non-Eligible RDTOH accounts on January 1,

2023.

First, calculate the balance in the eligible RDTOH. (Round your answers to the nearest whole dollar.)

Eligible RDTOHDecember 31, 2022
Dividend refund on 2022 eligible dividends paid
Eligible RDTOHJanuary 1, 2023

Part 12

Now, calculate the balance in the non-eligible RDTOH. (Round your answers to the nearest whole dollar. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

Non-eligible RDTOHDecember 31, 2022
Dividend refund on 2022 non-eligible dividends paid
Non-eligible RDTOHJanuary 1, 2023