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Question - Sharon Slotten purchased shares in ATCO Ltd. during the current year as follows:
Jan. 1: 200 shares for $25 per share
April 2: 300 shares for $30 per share
July 1: 100 shares sold for $45 per share
Sept. 8: 500 shares for $24 per share
On December 22, of the current year Sharon sells 200 ATCO Ltd. shares for $35 per share and pays $100 in sales commission.
Required - Calculate the taxable capital gain or loss included in Sharon's NET INCOME under paragraph 3(b) of the Income Tax Act.
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