Question 5: Blackburn Inc., a CCPC that uses a December 31 taxation year, began carrving on thebusiness of providing cleaning services to residential properties. All of the shares were owned by AaronBlackburn and, in addition, he was actively involved in managing the business. Mr. Blackburn, whose previous career was as a professor of business strategy at a major Canadianuniversity, showed little aptitude for actually running a business. In 2021, the business had a loss of$123,000 and a further loss of 587,000 in 2022, When the business began, Blackburn Inc. had purchased land on which the intention was to expand thebusiness with a second location once the first location became successful. As success did not appear to beon the horizon, Blackburn Inc. sold the land in 2022 realizing a capital loss of $192,000 which became a2022 net capital loss of $96,000. In early 2023, Mr. Blackburn decided to sell the company. White Enterprises, a large public companyagreed to buy all of his shares and, on May 1, 2023, the shares were sold resulting in an acquisition ofcontrol (AQC). On the AQC there was a deemed taxation vear end of April 30, 2023, Blackburn Inc. prepared an incomestatement for the deemed short taxation year of January 1, 2023 to April 30, 2023 (the 2023 taxation year).There was a business loss of $46,000 but no further capital losses for the 2023 taxation year. On April 30, 2023, the company owned the following capital property: Capital Properties Cost & ACB ucc FMVTemporary Investments $ 45,000 N/A % 12,000Accounts Receivable 90,000 N/A 76,000Land 180,000 N/A 262,000Building 325,000 $300,000 380,000Equipment 93,000 60,000 45,000Vehicles (Class 10) 145,000 110,000 132,000 Shortly after taking over Blackburn Inc., White Enterprises decided that some of the extra space inBlackburn's facilities could be used for manufacturing customized small kitchen appliances. Blackburn'sincome (loss) from the two separate businesses for the period May 1, 2023 to December 31, 2023 and the2024 taxation year was as follows: Business May 1 to Dec. 31, 2023 2024 Kitchen Appliances $146,000 (3 52,000) Cleaning Services ( 23,0000 263,000 Required: A If Blackburn Inc. makes all possible elections to maximize the use of the net capital and non- capital loss balances, determine the amount of the non-capital losses that will be carried forward after theAOC by White Enterprises, and the amount of the net capital loss balances that will no longer beavailable to apply to post-AOC taxation years. B. Indicate the maximum amount of the non-capital losses that can be used for the 2023 taxationvear of May 1 to December 31, 2023, and the amount available to apply to the 2024 and subsequenttaxation years. C. Indicate the maximum amount of the non-capital losses that can be claimed for the taxation yearending December 31, 2023, and the 2024 taxation year.