The Sanford Shop Corp. sells art works on consignment in Winnipeg. The shares of Sanford Shop Corp. are all owned by Evelyn Muldoon, a Canadian residing in Winnipeg. Required Determine Sanford's 2022 taxable income and federal income tax payable. Additional information The Sanford Shop Corp. has 2022 net income of $246,000 for the taxation year ending December 31, 2022. Net income is comprised of $222,000 in business income and $24,000 in taxable dividends from various investments in Canadian public companies. None of the company's income qualifies for the M\&P deduction. In May 2022, the Sanford Shop Corp. donated $48,500 to the Canadian Indigenous Art Foundation, a registered Canadian charity. There are no donation or loss carry overs from other taxation years, and the corporation paid no taxable dividends in the year. Sanford is associated with another corporation. The associated companies have agreed to share the 2022 business limit, with Sanford's share being $137,000. The combined TCEC of Sanford and its associated corporation is less than $10 million in both 2021 and 2022. The combined AAll of the two companies was $26,000 in 2021. First, find the taxable income for Sanford Shop Corp. for the year ending December 31, 2022. What is the taxable income for the year? Now, find the Part I federal tax payable for Sanford Shop Corp. for the year ending December 31, 2022. What is the federal tax payable