Question: Apple inc. is a CCPC with a net income for tax purposes to be $652,000 for the year ended December 31, 2019. The following additional

Apple inc. is a CCPC with a net income for tax purposes to be $652,000 for the year ended December 31, 2019. The following additional information is available:

Non-capital loss carryforward $40,000

Eligible portfolio dividends 25,000

Interest income (Canadian) on long-term investments10,000

Accounting gain on disposal of assets 65,000

Taxable capital gain on disposal of assets

Non-eligible refundable dividend ta on hand(NERDOTH) balance 2500

Eligible refundable dividend tax on hand (ERDOTH) balance 0

Prior year dividend refund from non-eligible dividend paymnet 2000

Dividend from wholly owned subsidiary 50000

dividend refund received by the wholly owned subsidiary from NERDOTH account 4000

share of annual business limit used by wholly owned subsidiary 200000

non-eligible dividend paid to shareholders during year 60000

a) What is the active business income? b) aggregate investment income? refundable portion of Part I tax?

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