L Co a domestic corporation in its seventh year of operation in 2018 (Fill in the blank and provide the corresponding computation and necessary journal entries.).

Note: use tax jurisdiction of the Philippines ang give the journal entries for each year. (7-11)

1. L Co a domestic corporation in its seventh year of operation in 2018 (Fill in the blank and provide the corresponding computation and necessary journal entries.). 7 8 9 10 11 Gross Profit 400,000 780,000 990,000 1,200,000 600,000 Business Expense 380,000 600,000 710,000 1,500,000 400.000 Net income 20,000 180,000 280,000 (300,000) 200,000 NT MCIT Income Tax Expense Income Tax Payable Deferred Charges (MCIT)