12. Corazon, a resident citizen, provided the following data for the current taxable year: Gross Income from business Business Expenses Land & Building Loans Payable A. Compute for the Taxable Net Income: a. P 1,117,634 b. P 1,193,134 B. Compute for the Tax due: P 800,000 317,634 75,500 (240,000) c. P 953,134 d. P 877,634 13. Gerald, married, supporting his ten (10) minor children had the following data for the current taxable year (Exchange rate $1=52): Business Income Professional Income Business Expenses Salaries/Compensation Income Philippines P 1,000,000 300,000 Australia $ 15,000 3,500 60,500 444,555 908 A. If Gerald is a resident citizen, how much will be his income taxable payable? B. If Gerald is a nonresident citizen, how much will be his income taxable payable? 14. Ms. Nadine Loostre is a teacher of La Consolacion College Manila, with sixteen (16) minor children, had the following data for 2018 taxable year. Salaries Professional Income 13th month pay and other bonuses P 1,200,000 110,000 150,000 Expenses from her practice of profession Rent Expenses 20,000 120,250 Other Income 70,460 A. The taxable income of Ms. Nadine is: B. How much will be the tax due?