Question 1 A company has a profit of RM 10,000 after incurring the following expenses: Water bill Traveling Salary Repairs and maintenance 3,000 10,000 30,000 20,000 Medical expenses for the staff 1,000 Loss on sale of fixed asset 3,000 Leave passage to the sales manager 5,000 Entertainment (generally 50% allowed) 25,000 Electricity 4,000 Donations to an approved institution 5,000 Depreciation (an estimation) 15,000 Bank interest Audit fee Advertisement Administrative expenses Accounting fee 3,500 2,000 16,000 35,000 1,000 Required: 1) What are the expenses that you would allow for income tax purposes to arrive at the adjusted income.