The following data summarize the operations of Red Pocket Limited for the years of 2009 to 2012 ended September 30.

The corporation has a net capital loss balance of $13,500 which arose in 1999.
REQUIRED
Compute the taxable income for Red Pocket Limited for the years indicated and show the amounts that are available for carry forward to 2013. (Deal with each item line-by-line across the years, rather than computing income one year at a time.)

Transcribed Image Text:

2009 2010 2011 018 $54,000 $32,000 $(75,000) $62,500 Income (loss) from business . . . . . . . . . . . . . Dividend income Taxable Canadian corpora- tions .. .. *.. . . *.. . 42,500 22,500 18,000 10,500 Taxable capital gains.. Allowable business investment loss Charitable donations. 11,000 2,500 . .. ., 3,750 23,000 9,000 3,000 13,000