Noble Manufacturers Ltd., a large-scale manufacturing company has provided you with the following information for the year ended 31 December 2021.

Kshs "000" Kshs "000"

Gross Profit 48,000

Less:

General expenses 3,900

Directors fees 7,200

Depreciation 10,400

Salaries and wages 4,600

Donation to Mayors campaign kitty 820

Interest expense 6,200

Dividends paid 4,605

Repairs and maintenance 6,250

43,975

Net Profit 4,025

Additional Information

1. On I January 2021, Noble Manufacturers Ltd. Purchased his factory from Kikope Ltd., a registered contractor for Kshs 500 Million. Kikope Ltd., availed the following information details concerning the cost of construction of the factory:

Kshs "000"

Acquisition of land 25,000

Demolition of old building on site 19,000

Labour quarters built on site 60,000

Factory building 190,000

Stone perimeter wall around the factory 30,000

Bank interest paid during the period of construction 56,000

380,000

2. The factory housed a warehouse costing Kshs 17,000,000,

administration block costing Kshs 50,000,000

and showroom costing Kshs 25,000,000.

Noble Manufacturers Ltd., installed machinery costing Kshs 200,000,000 on 2 January 2021 and started manufacturing animal feed.

3. The following additional assets were acquired during the year ended 31 December 2021: Date Asset Cost Kshs. "000"

5 January Scanners 620

12 February Furniture and fixtures 820

15 March Computers 2,250

14 April Motorcycle 190

14 June Special maintenance tools 36

18 July Led screen 48

21 July 3 Salon cars (Kshs 1,600,000 each) 4,800

26 October 2 Lorries (4 tones Kshs 4m each) 8,000

4. The following assets were disposed of during the year:

Date Asset Cash Proceeds (Kshs "000")

1 October 2021 Salon car purchased by Kikope at Kshs 1,600,000) 900

6 November 2021 Furniture 295 T

he written down values brought forward for capital allowance purposes as at 1 January 2021 were as follows:

Machinery Kshs '000" 8,310

ComputersKshs '000" 6,415

Motor Vehicles Kshs '000" 6,680

Fixtures and FittingsKshs '000" 4,990

Required:

Compute for Noble Manufacturers Ltd. For the year ended 31 December 2021

: 1. The capital allowances

2. Taxable profit

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