Obaa Yaa was employed as an accountant of KNUST MBA Company Ltd on 1st October, 2011 on a salary scale of GH 18,000 x GHS 6,000 GH 42,000. Her service conditions include the following: Provision of a Land cruiser Prado Vehicle for both official and private purposes and a cash allowance of GH100 each week for fuel for 48 weeks. Provision of a well-furnished accommodation at the company premises for which she pays 5% of her basic salary as rent to her employer. A yearly performance bonus of 25% of her annual basic salary. A monthly overtime allowance of GH 1,000. 2 Security personnel for day and night, each receiving monthly salary of GH500. The Night Security is paid directly by the company to his bank account and the Day Security has no bank account and is paid cash through Obaa Yaa Unaccountable monthly entertainment allowance of GH 200.00. 30 Her Returns submitted to Ghana Revenue Authority (GRA) on 31st March, 2017 in respect of 2016 Year of Assessment show the following unconsolidated allowances and benefits: GH Cost of Living Allowance for 2016 3,000 Accountable entertainment allowance (per month) 150 Lunch Subsidy (per month) 200 House help allowance (per month) 400 Duty post allowance (per month) 150 Risk Allowance 7.5% of Basic Salary Subsistence allowance 12.5% of Basic Salary Utility allowance 15.0% of Basic Salary Obaa Yaa received a total loan of GH 15,000.00 payable in 16 months at the rate of 10%. This loan is in addition to an outstanding similar loan of GH 10,000.00 during the previous twelve months. (Assume that the statutory rate is 25% per annum) She contributed 6% of her basic each month towards Social Security Fund. Obaa Yaa has two sisters (Esi and Esther). She is married with five children who are all attending Senior High Schools in Kumasi and Cape Coast. She is also pregnant now. Her returns indicated that she financed the following Life Assurance Policies in 2016: Insured Insurance Co Premium per Annum (GHS) Capital Sum Assured (GHS) Self Vanguard 3,500 4,500 Esi SIC 3,500 4,000 Esther SIC 2,500 3,000 Self SIC 5,500 5,000 Self Star 12,500 13,000 She is living with her both parents who are all aged 65 years Obaa Yaa earned an interest of GH 18,000 on her Adom Flexi savings account with Pacific savings and Loan Bank. 31 She received endorsement fees of GH 5,400 (Net of 10% WHT) and Directors fees of GH 16,200 (Net of 10% WHT). Agreed profit for the year from her Consultancy Services was GH 12,000 for which she paid GH 600.00 as tax installment. A tax of GH 18,000 was withheld from her salary during the year. Aside her full time job as an accountant, she operates two Urvan buses. Her account for the year ended 31st December 2016 showed the following results: GH GH Total income 12,000.00 Less expenses: IRS quarterly sticker 1,250.00 Repairs and testing 1,550.00 Drivers and mates 1,500.00 Petrol and lubricants 2,650.00 Road tips 2,150.00 Fines 900.00 Insurance 850.00 Depreciation 1,950.00 12,800.00 Net profit (loss) (800.00) Required: For 2016 Year of Assessment, compute Obaa Yaas: a) Assessable income from employment b) Total Assessable Income c) Chargeable Income d) Tax liability from her employment income e) Net Tax Payable. Show clearly all workings and state appropriate comments where applicable (especially for all information not relevant for your computations)