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MAIKO was in real estate business. In the year 2021 the following income statement was presented Rental incomes Ksh 1,500,000 Electricity expenses Ksh 87,000 Water

MAIKO was in real estate business.

In the year 2021 the following income statement was presented

Rental incomes

Ksh 1,500,000

Electricity expenses

Ksh 87,000

Water expenses

Ksh 47,000

Depreciation expense

Ksh 280,000

Caretaker expenses

Ksh 240,000

Repairs and Maintenance expenses

Ksh 360,000

Legal fees

75,000

Donations

200,000

Povisions for bad debts

20,000

Total operating expenses

1,309,000

Net income

191,000

Required:

Compute the adjusted taxable profit for the year 2021

Compute the gross tax liability of Maiko for the year 2021

Compute the tax due for Maiko for the year 2021

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