Slow Inc. is a Canadian-controlled private corporation based in your province. The company operates a wholesale business. The following information is provided for its year ended May 31, 2023:

1. Net income for tax purposes is $220,000. Included in this amount is the following:

Interest income from bonds	$10,000
Interest income on overdue trade accounts receivable	1,000
Taxable capital gain on sale of land	22,000
Eligible dividends from Canadian public corporations	12,000
Non-eligible dividends from PQ Ltd. (see item 2 below)	6,000

2. PQ Ltd. is a Canadian-controlled private corporation. Slow owns 60% of its common voting shares. In 2023, PQ claimed the small-business deduction on $320,000 of its active business income. PQ paid a non-eligible dividend of $10,000, of which Slows share is $6,000 (60%). As a result of the dividend, PQ received a dividend refund of $1,000 from its non-eligible RDTOH.

3. Slow made contributions of $12,000 to registered charities. This amount has been correctly adjusted for in computing net income for tax purposes.

4. The following information is from Slows 2022 tax return:

Non-capital losses	$5,000
Non-eligible refundable dividend tax on hand	3,000
Eligible refundable dividend tax on hand	0
Dividend refund	0

5. On May 31, 2023, Slow paid taxable dividends of $20,000 (eligible $11,000 and non-eligible $9,000) to its shareholders.

Required:

For the 2023 taxation year, determine Slows

1. Taxable Income, Active Business Income, Aggregate Investment Income

2. Federal Part I Tax

3. Federal Part IV Tax

4. Non-eligible RDTOH, Eligible RDTOH, Dividend Refund

Note

You are required to show the full calculation (including the applicable components) in order to earn full marks

You are not required to reference legislation in Income Tax Act