Goldmans Pty Ltd is a private company that carries on a furniture retail business in Australia. The companys profit and loss statement for the current year ended 30 June is as follows:

Gross Profit from trading		$1 300 000
Less Expenses
Salary Expenses	$200 000
Provisions for Bad Debts	$ 2 000
Depreciation on Equipment	$ 12 000
General expenses	$300 000	$514 000
Net Profit		$786 000

The depreciation on plant for tax purposes is $9000 and the amount of bad debts actually written off were $800.

Which one of the following amount represents the net tax payable by the company for the current year ended 30 June assuming no other transactions took place (assume a standard corporate tax rate)?

Select one:

1. $236 700

2. $790 200

3. $235 800

4. $786 000

5. $237 060