Problem #6 Mal Corporation with total assets of P50,000,000, excluding the land on which its busines situated, has the following data for the year 2021: Gross Income, Philippines P2,000,000 Gross income, USA 600,000 Expenses, Philippines 1.200,000 Expenses, USA 300,000 Other Income: Dividend from San Miguel Corp. 70,000 Dividend from Ford Motors, USA 120,000 Gain, sale of San Miguel shares directly to buyer 150,000 Royalties, Philippines 80,000 Royalties, USA 100,000 Interest income from bank deposit 90,000 Rent, land in USA 250,000 Other rental income (Phils.) 100,000 Prize, contest in Manila 9,000 Interest income ($ deposit in New York Bank) 50,000 There was a sale of Land held on PH which resulted to a loss of 500,000. Cost 1,500,000 Domestic Corporation 10. Tax Due 11. Final Tax on Passive Income 12. CGT Resident Corporation 13. Tax Due Problem #6 Mal Corporation with total assets of P50,000,000, excluding the land on which its busines situated, has the following data for the year 2021: Gross Income, Philippines P2,000,000 Gross income, USA 600,000 Expenses, Philippines 1.200,000 Expenses, USA 300,000 Other Income: Dividend from San Miguel Corp. 70,000 Dividend from Ford Motors, USA 120,000 Gain, sale of San Miguel shares directly to buyer 150,000 Royalties, Philippines 80,000 Royalties, USA 100,000 Interest income from bank deposit 90,000 Rent, land in USA 250,000 Other rental income (Phils.) 100,000 Prize, contest in Manila 9,000 Interest income ($ deposit in New York Bank) 50,000 There was a sale of Land held on PH which resulted to a loss of 500,000. Cost 1,500,000 Domestic Corporation 10. Tax Due 11. Final Tax on Passive Income 12. CGT Resident Corporation 13. Tax Due