PLEASE ANSWER ALL THE PARTS (ASAP NEEDED)

Manning Ltd. had the following transactions relating to two capital assets during 2020:

Building (Class 1 6%) Opening UCC = $180,000

Sold the building for proceeds of $520,000. The asset had a cost of $300,000 and a net book value of $120,000.

Equipment (Class 8 20%) Opening UCC = $35,000

Purchased new equipment for $20,000

Sold old equipment that had cost $5,000 for $2,000. That equipment had a net book value of $1,000.

Calculate the following (show your work!)

a) Maximum CCA Manning Ltd. can claim, along with any other income inclusions or deductions (4 marks)

b) The Ending UCC balance in each class (1 mark)

c) Identify adjustments you will need to make to reconcile accounting income and income for tax purposes (5 marks)