(Part I And Part IV Refundable Taxes, GRIP) Radco Inc. is a Canadian controlled private corporation with a December 31 year end. The various components of its Net Income For Tax Purposes are as follows: Active Business Income (Note 1) $823,462 Taxable Capital Gains 161,576 . Canadian Source Interest From Long-Term Investments 71,345 . Dividends (Note 2) 614,292 Note 1 As determined under ITR 5200, $624,560 of this total qualified as M&P profits. As these amounts are allocated to a province which has a special rate for M&P profits, the company calculates the federal M&P deduction. Note 2 The total dividend figure is made up of the following amounts: Eligible Dividends From Canadian Public Companies $123,470 Non-Eligible Dividends From Nad Ltd. (Note 3) 279,217 Non-Eligible Dividends From Jad Ltd. (Note 3) 211,605 Total Dividends $614,292 Note 3 Radco owns 100 percent of the shares of Nad Ltd. As a result of paying this dividend, Nad Ltd. received a dividend refund of $57,236 from its non-eligible RDTOH. Radco owns 40 percent of Jad Ltd. Jad Ltd. did not receive a dividend refund as a result of paying these dividends. Additional Information 1. On September 12, 2019, Radco paid taxable dividends to its shareholders totaling $186,780. It is the policy of the company to designate dividends as eligible only to the extent that their payment will result in a dividend refund. 2. At the beginning of 2019, Radco has a net capital loss carry forward $172,400 [(1/2)($344,800)]. In addition, there is a non-capital loss carry forward of $18,263. The Company would like to deduct as much as possible of these carry forwards during 2019. 3. Radco is associated with both Nad Ltd. and Jad Ltd. The Companies have agreed that Nad and Jad will each receive $150,000 of the small business deduction's annual business limit. The remaining $200,000 is allocated to Radco. 4. For 2018, Radco and its associated companies had combined ADJUSTED Aggregate Investment Income of $41,600. Their Taxable Capital Employed In Canada totaled $8,672,000 for 2018. 5. At December 31, 2018, Radco had a RDTOH balance of $19,742 and a GRIP balance of $32,476. During 2018, the Company paid taxable dividends of $30,000, $12,000 of which were designated as eligible. As a result of paying the dividends, Radco received a dividend refund of $11,500 (38-1/%)($30,000). 6. Using the formula found in ITR402(3), 90 percent of Radco's Taxable income has been allocated to the provinces. Required: Show all of the calculations used to provide the following required information, including those for which the result is nil. For Radco Inc.'s 2019 taxation year, calculate the following items: A. Part I Tax Payable. B. The refundable portion of Part I Tax Payable. C. Part IV Tax Payable. D. The balance in the GRIP account on December 31, 2019. E. The balance in the Eligible RDTOH and the balance in the Non-Eligible RDTOH on December 31, 2019. F. The dividend refund, if any, showing separately the amount related to eligible dividends and the amount related to non-eligible dividends. G. Total federal Tax Payable (net of any dividend refund). (Part I And Part IV Refundable Taxes, GRIP) Radco Inc. is a Canadian controlled private corporation with a December 31 year end. The various components of its Net Income For Tax Purposes are as follows: Active Business Income (Note 1) $823,462 Taxable Capital Gains 161,576 . Canadian Source Interest From Long-Term Investments 71,345 . Dividends (Note 2) 614,292 Note 1 As determined under ITR 5200, $624,560 of this total qualified as M&P profits. As these amounts are allocated to a province which has a special rate for M&P profits, the company calculates the federal M&P deduction. Note 2 The total dividend figure is made up of the following amounts: Eligible Dividends From Canadian Public Companies $123,470 Non-Eligible Dividends From Nad Ltd. (Note 3) 279,217 Non-Eligible Dividends From Jad Ltd. (Note 3) 211,605 Total Dividends $614,292 Note 3 Radco owns 100 percent of the shares of Nad Ltd. As a result of paying this dividend, Nad Ltd. received a dividend refund of $57,236 from its non-eligible RDTOH. Radco owns 40 percent of Jad Ltd. Jad Ltd. did not receive a dividend refund as a result of paying these dividends. Additional Information 1. On September 12, 2019, Radco paid taxable dividends to its shareholders totaling $186,780. It is the policy of the company to designate dividends as eligible only to the extent that their payment will result in a dividend refund. 2. At the beginning of 2019, Radco has a net capital loss carry forward $172,400 [(1/2)($344,800)]. In addition, there is a non-capital loss carry forward of $18,263. The Company would like to deduct as much as possible of these carry forwards during 2019. 3. Radco is associated with both Nad Ltd. and Jad Ltd. The Companies have agreed that Nad and Jad will each receive $150,000 of the small business deduction's annual business limit. The remaining $200,000 is allocated to Radco. 4. For 2018, Radco and its associated companies had combined ADJUSTED Aggregate Investment Income of $41,600. Their Taxable Capital Employed In Canada totaled $8,672,000 for 2018. 5. At December 31, 2018, Radco had a RDTOH balance of $19,742 and a GRIP balance of $32,476. During 2018, the Company paid taxable dividends of $30,000, $12,000 of which were designated as eligible. As a result of paying the dividends, Radco received a dividend refund of $11,500 (38-1/%)($30,000). 6. Using the formula found in ITR402(3), 90 percent of Radco's Taxable income has been allocated to the provinces. Required: Show all of the calculations used to provide the following required information, including those for which the result is nil. For Radco Inc.'s 2019 taxation year, calculate the following items: A. Part I Tax Payable. B. The refundable portion of Part I Tax Payable. C. Part IV Tax Payable. D. The balance in the GRIP account on December 31, 2019. E. The balance in the Eligible RDTOH and the balance in the Non-Eligible RDTOH on December 31, 2019. F. The dividend refund, if any, showing separately the amount related to eligible dividends and the amount related to non-eligible dividends. G. Total federal Tax Payable (net of any dividend refund)