www Example 1 -GRIP calculation Norwave is a CCPC incorporated in 2018. During 2018, all taxable income was eligible for the small business deduction. The company received eligible tion. The company received eligible dividends of $106,600 and designated $25,000 of dividends paid as eligible. In 2019, Norwave has Taxable income of $225,000 which includes All of $55,000 $50,000 of eligible dividends and $44,000 of ineligible dividends were also received. In the calculation of its current year income it has received a SBD of $28,500 (on income of $150,000 at 19%). The company paid $200,000 of dividends at the end of the year. Required: Determine how the dividends should be classified. www Example 1 -GRIP calculation Norwave is a CCPC incorporated in 2018. During 2018, all taxable income was eligible for the small business deduction. The company received eligible tion. The company received eligible dividends of $106,600 and designated $25,000 of dividends paid as eligible. In 2019, Norwave has Taxable income of $225,000 which includes All of $55,000 $50,000 of eligible dividends and $44,000 of ineligible dividends were also received. In the calculation of its current year income it has received a SBD of $28,500 (on income of $150,000 at 19%). The company paid $200,000 of dividends at the end of the year. Required: Determine how the dividends should be classified