2. 2021 Year end results for Corporate Income Taxpayer Company B is as follows. The Company gave the declaration on 25 April 2022 and will pay tax on 30 April 2022.

Profit for 2020: 5.500.000 TRY

Non-deductible expenses: 400.000 TRY

Previous year losses: 100.000 TRY for 2014, 300.000 TRY for 2016

Domestic Participation Exemption: 350.000 TRY

French Permanent Establishment Income: 300.000 TRY (The income is transferred to Turkey)

Russian Construction Permanent Establishment Income 450.000 TRY (The income is not transferred to Turkey)

Donations to X Foundation that works for public interest: 55.000 TRY

The prepaid tax: 205.000 TRY

The withholding tax paid 330.000 TRY

Corporate income tax rate is %22.

Required: a) Calculate corporate income tax payable for 2020. (10 points)

b) Make the journal entries on 25 and 30 April 2021. (5 points)