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The following data of ABC Ltd. relates to the current year: Pre-tax accounting income $20,000 Depletion Tax 4,000 Books 2,000 Depreciation Tax 10,000 Books 8,000

The following data of ABC Ltd. relates to the current year: Pre-tax accounting income $20,000 Depletion Tax 4,000 Books 2,000 Depreciation Tax 10,000 Books 8,000 Dividends from a tax Canadian corporation 6,000 False advertising fine (not deductible) 1,000 Rent revenue Tax 16,000 Books 12,000 Compute taxable income for the year

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