Question 4 a) For the year ended 31 December 2009, Gyamera Ltd made taxable trading profit of GHS 2,400,000 on which income tax is payable at 30%. 1. A transfer of GH/40,000 will be made to the deferred taxation account. The balance on this was GH&200,000 before making any adjustments for items listed in this paragraph. 2. The estimated tax on profits for the year ended 31 December 2008 was GHe160,000, but tax has now been agreed at GH/168,000 and fully paid. 3. Tax on profits for the year to 31 December 2009 is payable on 1 September 2010. 4. In the year to 31 December 2009 , the company made a capital gain of GHS 120,000 on the sale of some property. This gain is taxable at a rate of 25% Required i. Calculate the tax charge in the Statement of Profit or Loss for the year ended 31 December 2009. ii. Calculate the tax liabilities in the statement of financial position of Gyamera Ltd as at 31 December 2009