400,000 Accounting Profit Before Income (After all revenue and expenses listed below have been included) Long-service leave expense 20,000 Depreciation of Plant 40,000 8,000 Bad debts expense Revenue received in advance for service in August 2019 Interest income (not yet received) 12,000 3,000 Additional Information: The plant was purchased at the beginning on 1 July, 2018 at the cost of $200,000. The company estimates the asset's useful life of 5 years using the straight line method. The Australian Tax Office (ATO) allows a depreciation rate of 30% straight line on cost. Long-service leave actually paid during the year was $3,000. Bad debts of $4,000 were written off in this year. A corporate tax rate of 30% applies. 400,000 Accounting Profit Before Income (After all revenue and expenses listed below have been included) Long-service leave expense 20,000 Depreciation of Plant 40,000 8,000 Bad debts expense Revenue received in advance for service in August 2019 Interest income (not yet received) 12,000 3,000 Additional Information: The plant was purchased at the beginning on 1 July, 2018 at the cost of $200,000. The company estimates the asset's useful life of 5 years using the straight line method. The Australian Tax Office (ATO) allows a depreciation rate of 30% straight line on cost. Long-service leave actually paid during the year was $3,000. Bad debts of $4,000 were written off in this year. A corporate tax rate of 30% applies