Fast Track Company, a domestic common carrier engaged in the transport of goods and cargoes provided the following data for 2021 taxable year:

 

Gross receipts, 2021                                 P2,400,000

Receivables, January 1, 2021                         500,000

Receivables, December 31, 2021                  600,000

Operating Expenses                                    1,250,000

 

REQUIRED:

 

1. The business tax dues of Fast Track assuming the company is a non-vat registered entity.

2. The business tax dues of Fast Track assuming the company is a vat registered entity.

 

please explain carefully thank you so much,