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Please shpw your solution based on philippines PROBLEM 3 (Adapted) Mr. Brown, a self-employed individual, provided the following data during the 2018 taxable year: Gross

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based on philippines

PROBLEM 3 (Adapted) Mr. Brown, a self-employed individual, provided the following data during the 2018 taxable year: Gross sales from business P 3,200,000 Rental income on machinery 280,000 Interest income on bank deposit in the Philippines 60,000 Local travel expenses paid by the company for the travel of the managers and members of their families 420,750 De minimis benefits to all employees 80,000 Company contributions to the employees' retirement, insurance, and hospitalization benefit plans 120.000 Compute the total value of fringe benefits, the grossed-up monetary value of fringe benefits and the fringe benefits tax. PROBLEM 4 The manager of Cream Company received the following during 2018: Annual salary P 6,000,000 Toyota Sedan purchased by Max Company in the name of the manager 1,020,000 Rice allowance 147,200 Medical allowance 101.800 Determine the total fringe benefits expense and fringe benefits tax

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