Question 1 Still Life Sdn. Bhd. is a Malaysian resident company in the business of manufacturing health supplement in Nilai. The share capital is RM 2.8 million at the financial year ended 31 December 2021. It manufactures health supplement for men, women and kids for the local and overseas market. The company submits its Profit and Loss Account for the year ended 31 December 2021 as follows: Notes: 1. Included in the cost of sales is compensation received RM53.000 from Maritime Insurance Ltd due to stock damaged during transporting to overseas. 2. Interest received from fixed deposit in Hong Kong and transferred to Malaysia bank. 3. Payroll costs The following charges have been included in the salaries and wages account: a) Paid for the year employees' salaries RM319,000 and allowances RM98,000; b) EPF contributions for employees RM34,899; c) Paid directors' fees and allowances RM400,000 while EPF contributions RM89,000. 4. The entertainment expenditure includes the followings: a) Incurred cost of RM64,000 for healt drink samples to customers at One Utama shopping during brand promotion in June 2022; b) Joined health awareness campaign cum advertising in Australia to promote health supplement products manufactured by the company. Cost incurred RM 313,000. 5. Costs of repairs and renovates as follows: a) Repairs office doors that were damaged due to flood which cost RM 8,010; b) Change new office roof to be more advanced in air circulation RM91,200. Install three new air conditioners at new meeting and discussion room in total RM12,710. 6. Legal and professional fees include: a) legal fees of RM21,000 for giving false statement to public on the health supplement products; b) paid accountant and auditor fees RM 15,200 . 7. Donation made to an approved institution RM500,000. 8. Provisions for the year include: a) General provision as at 31" December 2021 was RM115,000. b) Specific provision RM15,000. 9. Other information: Capital allowance for the year of assessment 2021 was RM497,000 not including any new assets in the year. Required: Compute the income tax payable by Still Life Sdn. Bhd. for the year of assessment 2020. (Notes: Your computation should stant with the profit before taxation figure and follow the descriptions wsed in the notes to the profit and loss account, indicating 'nil' in the appropriate column for any item that does not require adjustment.) Question 1 Still Life Sdn. Bhd. is a Malaysian resident company in the business of manufacturing health supplement in Nilai. The share capital is RM 2.8 million at the financial year ended 31 December 2021. It manufactures health supplement for men, women and kids for the local and overseas market. The company submits its Profit and Loss Account for the year ended 31 December 2021 as follows: Notes: 1. Included in the cost of sales is compensation received RM53.000 from Maritime Insurance Ltd due to stock damaged during transporting to overseas. 2. Interest received from fixed deposit in Hong Kong and transferred to Malaysia bank. 3. Payroll costs The following charges have been included in the salaries and wages account: a) Paid for the year employees' salaries RM319,000 and allowances RM98,000; b) EPF contributions for employees RM34,899; c) Paid directors' fees and allowances RM400,000 while EPF contributions RM89,000. 4. The entertainment expenditure includes the followings: a) Incurred cost of RM64,000 for healt drink samples to customers at One Utama shopping during brand promotion in June 2022; b) Joined health awareness campaign cum advertising in Australia to promote health supplement products manufactured by the company. Cost incurred RM 313,000. 5. Costs of repairs and renovates as follows: a) Repairs office doors that were damaged due to flood which cost RM 8,010; b) Change new office roof to be more advanced in air circulation RM91,200. Install three new air conditioners at new meeting and discussion room in total RM12,710. 6. Legal and professional fees include: a) legal fees of RM21,000 for giving false statement to public on the health supplement products; b) paid accountant and auditor fees RM 15,200 . 7. Donation made to an approved institution RM500,000. 8. Provisions for the year include: a) General provision as at 31" December 2021 was RM115,000. b) Specific provision RM15,000. 9. Other information: Capital allowance for the year of assessment 2021 was RM497,000 not including any new assets in the year. Required: Compute the income tax payable by Still Life Sdn. Bhd. for the year of assessment 2020. (Notes: Your computation should stant with the profit before taxation figure and follow the descriptions wsed in the notes to the profit and loss account, indicating 'nil' in the appropriate column for any item that does not require adjustment.)