16.)

\fFACTS / DATA / GIVEN: Taxpayer: Domestic Corporation Taxable period: 2021 Description Amount Gross sales P2,500.000 Other operating income 200.000 Non-operating income 100.000 Cost of sales 1,000,000 Operating expenses 500.000 Non-operating expenses 50,000 COMPUTE: 2021 net taxable income using ITEMIZED deductions\fFACTS / DATA / GIVEN: Taxpayer: Resident Citizen (VAT taxpayer) Taxable period: 2020 Description Amount Gross Sales P5,000.000 Other operating income 200,000 Non-operating income 100,000 Cost of Sales 2,000,000 Operating Expenses 1,000,000 COMPUTE: 8% optional taxFACTS / DATA / GIVEN: Taxpayer: Resident Citizen (non-VAT taxpayer) Taxable period: 2020 Description Amount Gross Sales P2,500,000 Other operating income 200.000 Non-operating income 100.000 Cost of Sales 1,000.000 Operating Expenses 500,000 COMPUTE: 8% optional tax