4. Income of children. Crisanto, widower, earned an income of P120,000- during the year. His children had also the following respective income: Assunta, 20 years old, salary during the year, P50,000; Beth, 18 years old, income from the land inherited from his uncle, P45,000; Carmina, 15, income from property donated by parents (a gift tax was paid on the donation), P30,000; and Donita, income also from a property donated by Crisanto (gift tax has not yet been paid), P32,000. How much is the taxable income on Crisanto? 5. Computation of tax payable. An official of Libre Company requested you to compute its quarterly and final income tax payable. The following are the data on income and deductions: First Quarter Second Quarter Third Quarter Fourth Quarter Total Gross Income Deductions P 375,000 P 160,000 520,000 650,000 480,000 230,000 780,000 550,000 2,155,000 1,590,000 Aside from the quarterly income and expenses given above, the company was able to earn the following income in each and every quarter: Interest on savings deposit with PNB, net of tax Royalties Rent, net of 5% withholding tax P 2,800 60,000 114,000 How much is the tax liability of Libre Company for the 1st, 2nd, 3rd and final quarters?