This question is of TAXATION course ACCT 5335

Mr. Cauzone decided to wind-up his Company on 12/31/21. After selling all assets and settling all liabilities, there's $122,000 of Cash left in the Company. Mr. Cauzone owns all the shares of the Company with ACB of $7,000. He has come to you for advice and provided the following balances: PUC $2,000 CSOH $5,000 CDA $48,000 GRIP $24.000 Assuming Mr. Cauzone has no other income, calculate his Federal taxes payable/ refundable for 2021, based on above