Translux Inc. is a CCPC that is in the business of selling office supplies. It owns $55\%$ of the

outstanding shares of Mercer Ltd$.$ On December $15,2023,$ Mercer Ltd$.$ declared and paid a non$-$

eligible taxable dividend of $$186,000,$ of which Translux Inc. received $$102,300(55\%).$ As a

result of paying the $$186,000$ dividend, Mercer Ltd$.$ received a dividend refund in the amount of

$$11,500.$

Other $2023$ income of Translux Inc. includes the following amounts:

The capital gain was on the sale of land that had been used as an auxiliary parking lot but was

no longer needed.

Translux's office supply business is seasonal and, as a consequence, temporary cash balances

must be set aside for the purchase of inventory during the busy parts of the year. All of the

$$1,940$ in interest income was earned on these temporary cash balances.

At the end of $2022,$ the company's Non$-$Eligible RDTOH balance was $$31,342.$ The $2022$

dividend refund was $$13,465.$ The corporation had a nil balance in its GRIP on December $31,$

The only addition to the GRIP account in $2023$ is for eligible dividends received in the

year.

The company's $2023$ taxable income was $$74,300.$ There was no foreign income. Assume the

Part I income tax payable for $2023,$ was correctly calculated as $$16,480($this amount cannot be

reconciled with the data in this problem$).$

Because of its association with Mercer Ltd$.,$ its share of the annual business limit on income

eligible for the small business deduction $($SBD$)$ is $$60,000.$ Translux's $2023$ SBD is based on

this amount.

Translux Inc. paid taxable dividends of $$31,600$ in $2023.$ The corporation's policy is to maximize

the payment of eligible dividends.

Required:

A$.$ Determine the $2023$ Part IV tax and refundable portion of Part I tax.

B$.$ Determine the December $31,2023,$ GRIP account balance.

C$.$ Determine the Eligible RDTOH and the Non$-$Eligible RDTOH balances at December $31,$