XT Inc is a canadian controlled private corporation operating in a retail business. Its fiscal year end is December 31st. On October 1, 2019, the controlling shareholder sold all of her XT shares to YY Inc. YY is not related to XT. As of September 30, 2019. XT had a net income from business of $400,000. A review of XT's balance sheet revelaed the following:

cost undepreciated capital cost market value

inventory 600,000 550,000

investment in shares of a CCPC 100,000 20,000

land 100,000 400,000

building 600,000 420,000 700,000

at the end of the previous year, XT had a net capital loss for tax purposes of $30,000 incurred in 2017.

required:

indicate the tax implications for XT from the change in ownership.

please help me i have no clue what to do and this question is 20% of my grade, the prof doesn't answer my emails to help me. i would really appreciate it. thank you!