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Presented below is the Income Statement of ABC Company. ABC is in its sixth year of operations. Gross Business Income - Philippines Cost of
Presented below is the Income Statement of ABC Company. ABC is in its sixth year of operations. Gross Business Income - Philippines Cost of Sales - Philippines Selling and Administrative Expenses - Philippines Gross Business income - Spain Cost of Sales - Spain Selling and Administrative Expenses - Spain Income from Rent, net of tax Interest Income earned from bank deposits, net of tax Royalties, net of tax Dividends earned from a domestic corporation Dividends earned from a foreign corporation in Spain Creditable Withholding Taxes Tax Payments (1st to 3rd Quarter) 12,325,221.00 4,930,088.40 345,987.00 9,860,176.80 2,465,044.20 311,388.30 934,016.25 32,452.00 123,631.00 21,312.00 6,547,642.00 197,203.54 23,121.00 Compute for the Taxable Income, Income Tax, and Income Tax Payable assuming that ABC Company is: 1. A domestic corporation 2. A resident foreign corporation 3. A non-resident foreign corporation 4. A non-profit hospital
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