vii. In 2019, the company incurred legal fees of $2,500 to set up the corporation and $1,000 to issue shares to the president and CEO.

viii. Other expenses deducted in the financial accounting computation of income include:-

Depreciation and amortization$350,000

Interest on the loan and operating line of credit.... 9,500

Interest on insufficient income tax instalment 600

Purchase of additional store fixtures bought at a going-out-of-

Business sale. 800

Damages under a breach of contract suit initiated by a

Supplier 1,900

ix. An examination of the fixed asset ledger indicated the following UCC at the beginning of 2021:-

Building -1(4%).$568,000

Equipment(Office)-8(20%) 39,000

Trucks-10(30%). 170,000

Leasehold improvements(Note 1)-Life of lease ...165,000

Licences..5 years.87,393

Radio communication equipment(Cl#8-20%).70928