Hamish Ltd needs your assistance in calculating and disclosing the taxation expense for the financial year ended 30 June 2018. Hamish Ltd has supplied you with an extract from their income statement and from their balance sheet as well as a list of other information that need to be considered. Hamish Ltd Income statement for the year ended 30 June 2018 Income Revenue from Sales Interest Revenue Rent Revenue 904,000 850,000 18,000 36,000 Expenses Administration and selling expenses Wages and salary expenses Doubtful debts expense Goodwill impairment Insurance expense Depreciation expense plant Long-service leave expenses Warrantee expense:s 647,000 133,000 250,000 20,000 20,000 54,000 90,000 35,000 45,000 Net Profit before tax 257,000 Hamish Ltd Extract from the Balance sheet as at 30 June 2018 Assets Cash Inventory Accounts receivable (net) Prepaid insurance Interest receivable Goodwill Plant 40,000 90,000 80,000 6,000 Liabilities Accounts payable Wages and salaries owing Provision for long-service leave expenses Rent revenue received in advance Provision for warrantee expenses Loan payable 50,000 30,000 25,000 30,000 200,000