Subpump Limited is an active business corporation owned 100% by George Simpson, who has been attempting to sell the company for several years and have recently received an offer from a serious buyer. As of December 31, 2021, the company's financial position was as follows: Assets Accounts receivable Inventory (at cost) Land $2,000,000 700,000 1,000,000 Building (at cost) $1,500,000 Accumulated capital cost allowance (600,000) 900,000 Equipment (at undepreciated capital cost) 400,000 Goodwill (at cost). $ 300,000 Accumulated capital cost allowance (120,000) 180,000 $5,180,000 Liabilities and Shareholders' Equity Current liabilities Shareholders' equity: Common shares Retained earnings Additional information 1. Relevant asset values are as follows: Accounts Receivable Inventory Fair market value Land Building Equipment Goodwill $2,380,000 $ 10,000 2,790,000 2,800,000 $5,180,000 UCC 2,000,000 N/A 750,000 N/A 1,200,000 N/A 1,700,000 900,000 350,000 400,000 500,000 180,000 2. On December 31, 2021, the company had a balance of $9,000 in its capital dividend account. The balances in the NERDTOH, ERDTOH and GRIP accounts were $0. 3. Simpson acquired his shares of Subpump 10 years ago for $500,000.