a. Anna Corporation is a publicly listed company that has a calendar year of operation; thus, it is required to file its annual report on May 15 of the following year. However, due to the coronavirus that affected the activities of most of the companies in the country, the Securities and Exchange Commission (SEC) on its press release announced that the filing of those companies whose fiscal year ended between January 31, 2020 and March 31 ,2020 will be extended 60 days from the original deadline. The said extension shall automatically apply without the need for requests from covered companies.

When is the last day Anna Corporation can file its annual report? Explain.

b. Sky and Able is a telecommunication company whose fiscal years end on February 15. It is located at Aeon Centre, a Philippine Economic Zone Authority (PEZA) registered information technology center. As a pioneering entity operating in an economic zone Area, Sky and Able avails the income tax holiday; and is thus exempted from the regular income tax. However, they are still required to file some reportorial requirements such as submission of audited financial statements to the Securities and Exchange Commission (SEC) every thirty (30) days after filing with the Bureau of Internal Revenue (BIR).

In connection to letter A, when should Sky and Able file its annual report to the SEC?

c. Laban Company is an established underwriter who imposes a 0.80% underwriting fee in every transaction it closes. On the other hand, Bawi Company, a new player in the market, imposes an underwriting fee of 0.75% to its clients. Jackpot Company, another player, enters the market, offering an underwriting fee of 0.60% for every transaction.

Questions:

1.Who among the players will face a high risk of sustainability if it will not adjust to the competition? Why?