Ts of the Act Problem 4 Mia Gibbons is president of Pump You Up Ltd., a private corporation she started and owns. Mia has recently signed a lease for an upscale downtown condominium which she intends to move into next month. Mia has arranged for Pump You Up Ltd. to pay the $2,000 monthly rental for the condominium. No other employees have their rent paid by the company. Pump You Up Ltd, also pays for life insurance premiums for Mia. The company holds the policy, and on Mia's death the insurance premiums will be paid to the corporation. bigg Mia's daughter, Mimi, started attending university during the year. Mia had the company pay Mimi $9,000 so she could pay for her tuition costs. Mia has asked you to explain the income tax consequences to Mia and to Pump You Up Ltd. of the condominium rental, payment to her daughter and the life insurance premiums paid by the company. For the next meeting you agree that you will: - -REQUIRED (A) Assess the situation. (B) Identify the issues. (C) Analyze the issues. b Jonesob silk (D) Advise/recommend. bluow vis eonard bet a doir bw collegio s of ITA: 15(1), 18(1)