Net income for tax purposes includes the following: o business income from construction business o income from interest on seasonal cash in business bank account $ 2,000 o rental income from operation of small apartment building $ 502,000 $ 42,000 $500,000 65,000 $ 200,000 one employee is involved in running this property) o capital gain on sale of vacant land o eligible dividends received on portfolio investments from corporations non-eligible dividends received from their 90%-owned Canadian subsidiary, Graydon Investments Inc. (GIl). The subsidiary received a dividend refund of $35,000. This subsidiary does not generate active business income. The following additional information is provided at a year-end meeting with the company: The company has a net capital loss carryforward of $ 262,000 The company made charitable donations this year of $ 6,000 (it has not been deducted from business income above of $502,000) The company earns all of its income in Canada. . Net income for tax purposes includes the following: o business income from construction business o income from interest on seasonal cash in business bank account $ 2,000 o rental income from operation of small apartment building $ 502,000 $ 42,000 $500,000 65,000 $ 200,000 one employee is involved in running this property) o capital gain on sale of vacant land o eligible dividends received on portfolio investments from corporations non-eligible dividends received from their 90%-owned Canadian subsidiary, Graydon Investments Inc. (GIl). The subsidiary received a dividend refund of $35,000. This subsidiary does not generate active business income. The following additional information is provided at a year-end meeting with the company: The company has a net capital loss carryforward of $ 262,000 The company made charitable donations this year of $ 6,000 (it has not been deducted from business income above of $502,000) The company earns all of its income in Canada