The Honeymoon Co. is a Canadian controlled private corporation with active business income of $750,000 in 2020. Dividends were received during 2020 from a taxable Canadlan corporation in the amount of...

Extracted text: The Honeymoon Co. is a Canadian controlled private corporation with active business income of $750,000 in 2020. Dividends were received during 2020 from a taxable Canadlan corporation in the amount of $80,000. The company recognized a $50,000 capital gain during 2020. The company's year-end is December 313t. Additional Information is as follows Net capital loss carry-over from 2019 is $30,000. Non capital loss carry-over from 2019 is $70,000. Required: Calculate the following for the company for the 2020 tax year A. Net income for tax purposes B Taxable income C. Part I Federal Tax - Identify amounts for 1) basic federal tax, 2) federal abatement, 3) refundable tax on investment income, 4) small business deduction, 5) general rate reduction), and 6) the total federal tax.