3. Fill in the blanks:

ABC Inc., registered with BIR in 2X20, has the following data for the year 2X18:

Gross receipts P 1,150,000

Discounts and allowances P 250,000

Salaries of personnel directly involved in rendering service P 300,000

Salaries of administrative personnel P 100,000

Fees of consultants directly involved in rendering service P 50,000

Rental of equipment used in rendering service P 70,000

Rental of office space for use of administrative personnel P 50,000

Other operating expenses P 420,000

The GROSS INCOME is: 1.

The TAXABLE INCOME is: 2.

The INCOME TAX DUE AND PAYABLE is: 3.