$($D$)$ Advise$/$recommend$.$

Problem $4$

J$.$ Tilkenhurst Limited $($JTL$)$ is a Canadian$-$controlled private corporation which was started $10$ years ago by Mr$.$ Santosh Prasad with an initial investment in common shares of $$18,000.$ Mr$.$ Prasad has decided that it's time to retire and move to his retirement home in Saskatoon, Saskatchewan. Therefore, in January $2025$ Mr$.$ Prasad wishes to have JTL sell the assets to a corporate purchaser at their fair market value and then wind up JTL$.$ He would like your advice on how much capital he would have to invest personally if he wound up JTL$,$ and he would like your advice on whether he should instead retain JTL$.$

The following is a projected tax balance sheet prior to the sale of the assets and the distribution of the resulting net cash as at the intended date of the winding$-$up:

$\backslash$table$[[$J$.$ Tilkenhurst Limited BALANCE SHEET as at December $31,2024],[$Cash$,,$$ $15,000],[$Accounts receivable,$$60,000,],[$Less: reserve for doubtful accounts,$5,000,55,000],[$Inventory$,,110,000],[$Marketable securities$,,26,000],[$Land$,,385,000],[$Building $-$ UCC,,$223,000],[$Equipment $-$ UCC,,$110,000],[$Customer list $-$ UCC,,$20,600],[,,$$$944,600],[$Liabilities$,,$$$645,000],[$Future income taxes,,$41,000],[$Common shares $($PUC$),,18,000],[$Retained earnings,,$240,600],[,,$$$944,600]]$

ITA: $54,83(2),84(2),88(2)$

Pr

$116,850$