Problem 1 You, CPA, have been approached by your client, Ardbert, to determine the capital dividend account his company, Warrior of Darkness Ltd., a Canadian controlled private corporation incorporated in 2010. You have reviewed the tax returns of the corporation for the period January 1, 2010 to December 31, 2021 and correctly made the following notes: 2010 Received life insurance proceeds of $273,498 in the company. The policy had a cash surrender value of $47,578 and an adjusted cost basis of $50,000 2011 Eligible capital property of a customer list was purchased for $65,000 2012 Disposed of a building resulting in a capital gain of $175,000 and recapture of $100,000 2013 Sold shares resulting in a capital gain of $200,000 2014 Received a capital dividend of $150,000 2015 July - Paid capital dividends of $400,000 2015 August - Disposed of shares resulting in a capital loss of $500,000 2016 Sold land inventory for $100,000 2017 Sold shares resulting in a capital gain of $60,000 2018 Received taxable dividends of $70,000 2020 Sold a customer list for $120,000, the company's 14.1 UCC balance at the time of sale was $14,000 2021 Sold dogecoin resulting in a capital loss of $200,000 Required Calculate the balance in Warrior of Darkness Ltd.'s capital dividend account as at December 31, 2021 showing the maximum capital dividend (if any) that could be paid at that time. Show all calculations, and explain why you omitted any of the above amounts in your answer. Problem 1 You, CPA, have been approached by your client, Ardbert, to determine the capital dividend account his company, Warrior of Darkness Ltd., a Canadian controlled private corporation incorporated in 2010. You have reviewed the tax returns of the corporation for the period January 1, 2010 to December 31, 2021 and correctly made the following notes: 2010 Received life insurance proceeds of $273,498 in the company. The policy had a cash surrender value of $47,578 and an adjusted cost basis of $50,000 2011 Eligible capital property of a customer list was purchased for $65,000 2012 Disposed of a building resulting in a capital gain of $175,000 and recapture of $100,000 2013 Sold shares resulting in a capital gain of $200,000 2014 Received a capital dividend of $150,000 2015 July - Paid capital dividends of $400,000 2015 August - Disposed of shares resulting in a capital loss of $500,000 2016 Sold land inventory for $100,000 2017 Sold shares resulting in a capital gain of $60,000 2018 Received taxable dividends of $70,000 2020 Sold a customer list for $120,000, the company's 14.1 UCC balance at the time of sale was $14,000 2021 Sold dogecoin resulting in a capital loss of $200,000 Required Calculate the balance in Warrior of Darkness Ltd.'s capital dividend account as at December 31, 2021 showing the maximum capital dividend (if any) that could be paid at that time. Show all calculations, and explain why you omitted any of the above amounts in your