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Stan Is the Sole Shareholder of Hardware Ltd

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Stan is the sole shareholder of Hardware Ltd.Hardware purchased all of the shares of Tools Inc.in 20X6 for $500,000.Tools incurred a non-capital loss of $25,000 in the year ended December 31,20X5.Stan has decided to initiate a wind-up of Tools Inc.into Hardware Ltd.on June 23,20X9.Due to the seasonal nature of his sales,Stan would like to maintain the April 30th year end that he has used since beginning his business.
Stan's accountant has prepared the following anticipated balance sheet for Tools Inc.as of June 22,20X9.The fair market value of the assets on both June 22,20X9 and the date of acquisition in 20X6 are presented in the following table:

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Definitions:

Portfolios

A collection of different types of investments (such as stocks, bonds, commodities, etc.) that an individual or institution holds.

Unsystematic Risk

The risk associated with a specific company or industry, which can be mitigated through diversification.

Diversification

A risk management strategy that mixes a wide variety of investments within a portfolio to reduce exposure to any single asset or risk.

Weights

In finance, it often refers to the ratios or percentages assigned to different components of a portfolio or an index, indicating their relative importance.

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