(2022) 3. Amit operate a small restaurant in the Nadi area. The restaurant made total sales of $150,000 during the year 2018. On 15 December he received an order to do the catering for UniFiji for the 2019 graduation held in April. He accepted the order whereby he received $20,000 in advance. His business expenses for the year were as follow: 2023 Cost of Sales $25,000 15,000 Wages Fine by the City Council for having a dirty 2,000 restaurant kitchen Utility expenses Donation to beggars 10,000 1,000 He has also leased out a floor space to a law firm where he receives $2,000** monthly rent. Income earned in Japan was FJD$25,000. Tax paid on this in Japan is FJD$8,000. Provisional tax paid by Amit to FRCS is $25,000. Additional Information: Amit uses accrual accounting for recording. *The $20,000 is not included in the total sales. **He has leased out the floor space since May 2017 2021 Year of Computation is 2022 Requirement: 1. Calculate his business profit. for the year ending 2. Calculate the amount of tax payable on worldwide income. 3. Calculate the average tax rate (ATR). 4. Calculate the Fiji tax payable on the foreign-source income. 5. Determine allowable FTC. 2022 6. Compute tax payable/ refund in Fiji; show the order of the tax credit claims. Note: Take into Account Budget updates related to Fiji tax