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: Gross Income Deductions First Quarter P 375,000 P 160,000 Second Quarter 520,000 650,000 Third Quarter 480,000 230,000 Fourth Quarter 780,000 550.000 Total 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 P 2,800 Royalties 60.000 Rent, net of 5% withholding tax 114,000 How much is the tax liability of Libre Company for the 1st, 2nd, 3rd and final quarters? 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: Gross Income Deductions First Quarter P 375,000 P 160,000 Second Quarter 520,000 650,000 Third Quarter 480,000 230,000 Fourth Quarter 780,000 550.000 Total 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 P 2,800 Royalties 60.000 Rent, net of 5% withholding tax 114,000 How much is the tax liability of Libre Company for the 1st, 2nd, 3rd and final quarters