Urgent help for Taxation Course

8) Newz inc. is a Canadian-comirolled private comporation with a December 31 st year-end. The company's controller has asked you to prepare the 202112 ar return. The company reported a net income of $200,000 on its financial statements in 2020. Or this amount, $15,000 was from mon-eligitle dividend income recived from a taxable Canadian corporation. The remaining income was from astive business. Additional information: 1) The non-eligible dividends were rocived from Snappy Lad. a connected Canadian-controlled private corporation. Sruppy has coly one class of shares, and the total amount of non-eligible fividends paid in 2021 was 550,000 which resulted in a non-eligible dividend refund of 59,000 . 2) Newz had a tulance in its ave-eligitle RDTOH account of 53,000 at the end of 2020. The uxed 5220,000 of the small business deduction 3) Newz is acseciated with Golden Co. Golden Cose. 4) New x2021 financial atatencent der tikcome inclueles a donation expense of $1.000. 5) Amortiration of $30,000 was eypensed on Newz income statement in 2021. CCA has been correcly calculated al 528 . 50 fir 2021 and has not been transferred from the tax aceounts to the financial statements. New z utilines the meximum CCA deduction each year. (None of the above is subject to rules pertaining to specified corporate income, excessive income fron pussive investments, of taxable capital in excess of $10 million.) Required: A. Determine Newz's net income for tax purposes. B. Determine Newz's taxable income. C. Determine the small-business deduction for Newz In your answer, identify the values for 1) active busincss income 2) taxable income annual limit. Calculate Newz's aut IV tax on non-eligible dividends vidend refund from non-eligible RDTOH, if applicable. d intermediate and final answers to the nearest whole dollar