Home base business - no profit - ask international

QUESTION:
I have a full time job (outside the house), and I also tried to run a home
base business (in my spare time).  I bought a company name, and registered
the company.
I did one business transaction (bought an item and sold it), but made no
profit on the transaction.
I decided not to continue with the small business, as it was too much work.
Do I need to claim the single transaction on my personal tax return, since
there was no net income (profit) from it?
Would this raise an audit flag at CRA if I have a company registered in my
name, with no claimed transactions?
=====================================================
david ingram replies:
If you registered a company name, you can expect a request for a return if
it was an incorporated company.
If you were a proprietorship, it is a simple matter to fill out form T2124
and put zero on line 135 of your T1-General return.  You may need to pick
that return up at the post office.
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