The schedule below outlines the net income for income tax purposes (by source) of ABC Inc. (ABC), a Canadian-controlled private corporation wholly owned by Ms. Alpha, for its fiscal year ended December 31,2021 . The Toronto-based company is a wholesale company with corporate and public clients. ABC Inc. Net Income for Income Tax Purposes (by Source) for the Year Ended December 31, 2021 Income from Wholesale sales net of all capital cost allowance Interest income Dividend income Taxable capital gain (non-active) Net income for income tax purposes $150,00050,00047,00040,000$287,000 Additional Information: 1. Interest income is derived from the following sources: (a) 10-year bond in Gamma Ltd., a Canadian company $34,000 (b) Interest on a term loan to Beta Limited a Canadian company $50,00016,000 Note: ABC owns 65% of Beta Limited. The other 35% is owned by a Canadian friend of Ms. Alpha's 2. 3. Sale of non-active assets during the year resulted in the taxable capital gain of $40,000 4. Beta Limited (Beta) had taxable income of $800,000 for the year ending March 31 , 2021, all of which was active business income. Beta was allocated a Business Limit of $250,000 for the year Beta received a dividend refund of $25,000 when it paid out dividends of $70,923 on its shares. 5. During the year, ABC paid non-eligible dividends to Ms. Alpha totalling $55,000 of which $5,000 was a capital dividend. (Election forms were already filed.) 6. For the fiscal year ended December 31, 2021, ABC made the following expenditures: Charitable donations not yet deducted $5,000 Federal tax instalments $9,000 Required: A. Compute the taxable income of ABC Ltd. For the December 31, 2021 year end. Then calculate the federal Part I tax on federal taxable income payable by the corporation for the 2021 taxation year. Show in detail the calculation of all tax deductions, using a separate schedule for each, as needed. Support your treatment of each item listed above with a section reference (or a supported explanation)