During the current taxation year, KT Ltd a Canadiancontrolled private corporation located in Nova Scotia earned $ of active business income. In addition, the company made the following capital transactions.

Gain on sale of shares of a public corporation $

Loss on shares of a public corporation

At the end of the previous taxation year, the following unused losses were available for carryforward.

Net capital losses $

Noncapital losses

Required:

For the current taxation year of KT Ltd calculate

net income for tax purposes;

taxable income; and

total federal income tax.