Marcos is an employee Jes IModelling Agency. For the year 2021, she earned a net taxable compensation income of P480,000. Jes IModelling withheld P40,000 from Marcos's taxable compensation.

Marcos also owns Pennyshoppe, a store selling ready-to-wear apparels for all ages and genders. the following genders relates to the operations od Pennyshoppefor the taxable year ending December 31,2021.

sales - 800,000 dividend income from Mcdo Food Corporation, gross on final tax - 15,000 Cost of Sales - 260,000 Operating Expenses: - Bad debts expense - P10,000 - Interest Expense - P5000 - Income taxes paid for the first 3 quarters - P53,000 - Percentage tax paid - P25,000 - Local Business and real property taxes - P17,000 - Entertainment, amusement, and representation exoense - P150,000 - Travel Expense - P50,000 - Salaries and wages - P180,00 - Professional free paid - P35,000 - Unclaimed NOLCO from 2019 - P5,500 - Depreciation Expense -P15,000

Additional Information: The travel expenses were incurred by Marcos in her modelling local and foreign travels. The depreciation expense came from the depreciation of her personal car. the professional fees paid pertains to professional fees of an external accountant who was engaged by Marcos to oversee the accounts and taxes of Pennyshoppe starting June 2021. Applicable withholding taxes on the professional fees were properly withheld and remitted by Pennyshoppe. since the accountant was only hired in June 2021 Marcos filed and paid the first quarter income tax return of Pennyshoppe. During that time, there were no clear records of the expenses of the business yet, so Marcos used 40% of the net sales in the computation of the taxable income for the first quarter. The accountant recheck the first quarter Income Tax Return and found no exemptions on the return. Salaries and wages pertain to compensation income of Chito, the only employee of Pennyshopee. Chito is a senior citizen with annual income that do not exceed the poverty level as determined by the NEDA. Withholding taxes on the compensation of Chito was properly withheld and Remitted by Pennyshoppe. No accounts receivable for the year were ascertained to be actually worthless. The interest expense were incurred from loan extended by her sister, Bailey.

In the BIR form 1701 to be filed by Marcos for the taxable year 2021, identify the correct amount of the following.

1. Tax the should be withheld from the compensation income.

2. Deductible entertainment, amusement, and representation expense.

3. Deductible taxes from grass income.

4. Total allowable deduction from the gross business income including special deductions, if applicable.

5. Taxable income from Business.

6. Total taxable compensation and business income

7. Total tax credits/payments.

8. Income tax still due for the taxable year 2021.