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PLEASE SHOW YOUR CALCULATIONS, THANKS Stratford Ltd. has net income for tax purposes in the current taxation year of $124,500. Included in this are the
PLEASE SHOW YOUR CALCULATIONS, THANKS
Stratford Ltd. has net income for tax purposes in the current taxation year of $124,500. Included in this are the following amounts: Active business income Dividends received from taxable Canadian corporations Taxable capital gains $107,500 $ 10,200 $ 6,800 At the beginning of the current taxation year, Stratford Ltd. had a net capital loss carry over balance of $10,000 and a non-capital loss carry over balance of $23,500. Based on this information, what is Stratford Ltd.'s taxable income in the current year? O A. $91,000 B. $94,200 C. $84,000 D. $63,800Step by Step Solution
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