• Consider the asset mix, based on fair market values, of each of the following three independent Canadian-controlled private corporations: Corporation
•  1: Land and buildings used in an active business carried on in Canada 80% Shares (45% of issued shares) of Zayne Ltd., a small business corporation 20% Corporation 
• 2: Equipment used in an active business carried on in Canada 85% Shares (_ 1% of issued shares) of Isabella Ltd., a public corporation 15% Corporation 
• 3: Term deposits 40% Shares of Emma Ltd., a wholly owned small business corporation 60% Required: Indicate which of the above three corporations satisfy or do not satisfy all of the conditions in the definition of a “small business corporation”, supporting your conclusions with the facts given above.

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