Problem 12 (Chapter 15: Problem 2) Bob Stein is a friend of yours who owns all the shares of Stein Lid., a Canadian-controlled private corporation incorporated in 1999. He has heard recently about something called the capital dividend account and he is wondering if his company might have one. He would like you to explain to him what a capital dividend account is, advise him on whether his company qualifies for one and determine if Stein Ltd. has a CDA balance. Use the following format for your analysis: Capital Capital Untaxed Dividend Untaxed Life Dividend Date Transaction CG/CL Received ECP Insurance Paid Balance Bob has provided you with the following additional information: You have reviewed the tax returns of the corporation for the period January 1, 1999 to December 31, 2015, and made the following notes: 2001 Disposed of bonds resulting in a capital gain of $10,000. 2002 Received taxable dividend of $2,000 and capital dividend of $5,000. 2003 Disposed of shares resulting in a capital loss of $4,000. 2006 Disposed of equipment resulting in a capital gain of $6,000 and recapture of $3,000. 2007 Eligible capital property was purchased for $40,000. 2008 Sold vacant land and reported capital gain of $100,000. 2009 2008 capital gain on sale of vacant land was reassessed by the CRA as income. Stein Limited did not fight the reassessment. 2010 Sold shares resulting in a capital gain of $20,000. 2011 Received life insurance proceeds of $100,000 on a life insurance policy on the life of the company president purchased in 2005. As at January 1, 2011, the policy had an adjusted cost basis of $20,000. 2012 Paid capital dividends of $50,000. 2013 Sold a customer list for $100,000. The company's cumulative eligible capital balance at the time of the sale was $25,000. 2015 Sold shares resulting in a capital gain of $37,500