Foodie's Wholesale is owned and managed by Venus Willie. For the year to December 31st, 2022, Venus showed the following results for the entity's operations: Gross Profit Expenses: Depreciation Legal expenses Donations Bad debts Wages and Salaries Travel Miscellaneous expenses Advertising Loss on disposal Utilities Profit before taxes 50,000,000 24,000,000 1,000,000 19,000,000 100,000,000 10,000,000 90,000,000 20,000,000 1,000,000 415,000,000 10,000,000 (325,000,000) 90,000,000 Notes: i. Legal expenses comprise $12,000,000 for debt recovery, $8,000,000 to assist in the purchase of a machine on January 1, 2021 and the remainder incurred to defend an income tax case. Venus was unsuccessful in her defence. ii. All the amounts donated were related to registered charities on the approved charitable list, except for $200,000, which was donated to the Yout' Dem Club in her community. This is not a registered charity. iii. Included in the bad debts is an estimate of $15,000,000 for Provision for Bad debts and the remainder is a specific debt for Vika Azeranko. iv. Travel includes $7,000,000 incurred to negotiate new business agreements. The remainder relates to airline tickets for family vacation and pocket money for Suzie and Cutie, Venus's daughters. V. vi. Advertising relates to the construction of a new billboard. Construction was completed on January 1, 2021. Similar billboards are allowed 20% annually by Tax Administration. Jamaica. The Loss on Disposal was for a Truck which was sold during the year for $1,000,000 with a written down value of $2,000,000. This amount has been included in the Capital allowances in (vii) below. vii. Capital allowance for the year is as follows: Initial Allowances $8,000,000 Annual Allowances $7,000,000