Questions Three (24 marks) Acetti Scarr Cohorts Inc . ("ASCI ") is a Canadian -controlled private corporation ("CCPC ") providing specialized project management services . ASCI's only client is Clean Chemicals ("Clean "), a large public company in the chemical and pharmaceutical manufacturing industry Clean relies on the technical expertise of ASCI to analyze the environmental impacts to soil and ground water around its manufacturing sites . ASCI has one employee , Jacob an engineer with 30 years of experience . Jacob is also the sole shareholder of ASCI When the workload becomes too much for Jacob to manage on his own, ASCI will subcontract project work to various independent contractors ASCI invests its surplus cash into an investment portfolio . The company has correctly calculated its net income for tax purposes to be $710,000 for the year ending December 31, 2021, as shown below