Evergreen Trees Inc.is a CCPC operating in Nova Scotia.
Three asset sales occurred prior to the end of 20X1.The following information pertains to the net gain on the sale of the assets:
Building (One of several owned by the company)
The building was previously purchased for $80,000.At the time of the sale,the accumulated amortization on the building was $10,000.The UCC balance was $65,000.Proceeds on the sale were $110,000.
Land
The land was purchased for $200,000 and sold for $250,000.Proceeds of $60,000 will be received in the current year.The remainder of the payment will be received in equal installments over the next eight years.
Marketable Securities
The company sold its entire public portfolio in the current year.The adjusted cost base of the shares was $100,000.The market value of the shares at the time of sale was $135,000.Selling costs on the sale were $5,000.
Required:

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The Answer of Evergreen Trees Inc.is a CCPC operating in Nova Scotia.
Three asset sales occurred prior to the end of 20X1.The following information pertains to the net gain on the sale of the assets:
Building (One of several owned by the company)
The building was previously purchased for $80,000.At the time of the sale,the accumulated amortization on the building was $10,000.The UCC balance was $65,000.Proceeds on the sale were $110,000.
Land
The land was purchased for $200,000 and sold for $250,000.Proceeds of $60,000 will be received in the current year.The remainder of the payment will be received in equal installments over the next eight years.
Marketable Securities
The company sold its entire public portfolio in the current year.The adjusted cost base of the shares was $100,000.The market value of the shares at the time of sale was $135,000.Selling costs on the sale were $5,000.
Required: