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The following information relates to the operations of Powder Ltd. for the taxation year ended December 31, 2019 (all amounts are based on the relevant

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The following information relates to the operations of Powder Ltd. for the taxation year ended December 31, 2019 (all amounts are based on the relevant tax rules): Net Business Loss $212,700 Dividends From Taxable Canadian Corporations $50,250 $14,400 Taxable Capital Gains Allowable Capital Losses Charitable Donations $6,638 $8,100 At the beginning of the taxation year, the Company had a carry forward of unused charitable donations of $1,975 from the previous year, and a net capital loss carry forward of $14,500. It is the policy of the Company to minimize net capital loss balances prior to using any other type of carry over balance. Required: Calculate the Powder's minimum Net Income For Tax Purposes and Taxable Income for its 2019 taxation year. Indicate any balances available for carry forward to subsequent years

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