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Which of the taxable incomes are correct

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Question - In 2019, ABC Co. recognized $35,000 in business income and $2,000 in taxable capital gains. In 2020, the company incurred a business loss of $30,000, a taxable capital gain of $3,000, and an allowable capital loss of $8,000.  Business income for 2021 was $60,000, taxable capital gains were $6,000, and the company received $15,000 in dividends from a taxable Canadian corporation.  Assuming ABC Co. utilizes any unused losses as soon as possible, which of the following taxable incomes are correct?

A) 2019: $37,000; 2020: ($35,000); 2021: $81,000

B) 2019: $5,000; 2020: ($0); 2021: $63,000

C) 2019: $7,000; 2020: $0; 2021: $78,000

D) 2019: $35,000; 2020: $0; 2021: $66,000

Reference no: EM133168482

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