Grim Corporation is a UAE resident company. It has income and expenses for its $2017$ fiscal year, recorded under International Financial Reporting Standards. In addition, a review of Grims books and records reveals the following information:Grim expensed, for book purposes, donations totaling AED$168,820$ and AED$100,000$ to UAE Shooting Federation and American Red Cross, respectively and entertainment costs totaling AED$198,180.$ These costs were incurred by Grim sales personnel, are reasonable in amount, and are documented in company records.During January of the current year, Grim gave out some loans to its employees and equally took a loan from Mashreq bank. The net interest expenditure recorded by Grim in its accounting income was AED$183,500.$Grim recorded dividend received of AED$294,500.$Grims accounting income for the year was AED$2,936,000.$ In the previous year, Grim made a loss of $220,200.$Year $2018$Grim made a loss of $350,000.$ However, Grim received the following income and expenditure from its Foreign Permanent Establishments in three foreign jurisdictions, Country A$,$ Country B and Country C:CountryABCGross Income $($AED$)750,0002,550,0003,700,000$Expenditure $($AED$)200,0003,400,0001,750,000$Tax rate$12\%10\%9\%$Grim decides to make an election to take into account income and expenditure from its Foreign Permanent Establishments. Grims $350,000$ loss for $2018$ does not include income and expenditure from these foreign jurisdictions. Ignore tax credit.InstructionYou are required to compute Grims taxable income and tax liability for years $2017$ and $2018,$ showing all workings.