On 15th April, 2019, Said Al Busaidi needs to prepare the final return of Al Noor LLC for the year ended on 31st Dec. 2018 to SGT as he is the principal officer. He is one of partners. He lives in Qurum, Muscat. His mobile no. is 98840888 and his ID no. is11787855. Al Noor LLCs address is: P.O. Box: 1094, Postal Code: 126, Qurum, Muscat, telephone no. is 24433221. It is carrying on AUDITING SERVICES. It has been registered on 1st January, 2013 in Muscat and its C.R.No. is 1/33456/6. The accounting period starts on 1st January and ends on 31st December every year. The trial balance for the accounting period is as following:

Accounts	Debit	Credit
Cash	100,000
Accounts Receivable	547,000
Inventory	1,848,000
Property, plant and equipment (net)	1,300,000
Capital		1,600,000
Gain from selling machine		80,000
Gain from disposing securities listed in MSM		40,000
Sales		2,600,000
Rental Revenue		500,000
Cost of Goods Sold	150,000
Administrative expense	100,000
Salaries payable (Owner)	432,000
Depreciation Expenses	75000
Donations	60,000
Bad debts expense	158,000
Tax consultancy	50,000
Total	4,820,000	4,820,000

Additional information:-

• Donations of OMR 60,000 have been made which is not approved by Financial Affairs and Energy Resources Council
• Depreciation of OMR 75000 (1000,000*7.5%) was accounted for Tractors and Heavy vehicles
• Salary payable to the partners of OMR 432,000. Two partners are working on a full-time basis while another two are working on a part-time basis. For partners who are working on full-time basis, the salary amount stated in the contract is OMR 18,000.
• Five debtors couldnt pay the total amount due of 120,000 because they have been bankrupted as per the certificate received from the court while others do not have a certificate of being bankrupted.
• The establishment has paid a tax of OMR 25000 as per provisional return of income.
• Due to paying income tax on instalments, Al Noor Est. has paid OMR 5500 as additional tax.
• OMR 8,550 is the loss brought forward from 2017.
• The SGT returned an amount OMR 10500 as an excess tax paid as per final assessment for previous years.

Required

Prepare final return of income for the year ended on 31^st Dec. 2018 and Compute tax liability.