Q 2 Grace Ltd recorded a profit before tax of $100000 for the year to 30 June 2017, which included the following items:

Depreciation expense - plant

Doubtful debts expense

Long-service leave expense

$8000

4000

5000

For taxation purposes the following amounts are allowable deductions for the year to 30 June 2017:

Tax depreciation - plant

Bad debts written off

Long service leave paid

$9000

3000

6 000

Depreciation rates for taxation purposes are higher than for accounting purposes. A corporate tax rate of 30% applies.

Required: prepare a current tax worksheet to determine the taxable income for the year to 30 June 2017.