Question Two: (10 Marks) Assume that ABC partnership recognized accounting profit for Dec 31, 2018 by EGP 650,000. The tax examination revealed the following 1- Some merchandise of cost EGP 6,000 and have a market price of EGP 10,000 were withdrawn by one of the owners for personal use the transaction not recorded). 2- Ending inventory understated by EGP 16,000 3- Sales invoice by EGP 18,000 recorded as purchases, 4- Cash donations of EGP 31,000 to the Egyptian Government were not recorded. 5- Salaries by EGP 30,000 for 2 years 2018 and 2019 were recorded in the current year by EGP 20,000 (Note: Annual salaries are fixed) 6- General and administration expenses by 25,000 EGP were recorded by 2,500. 7. Personal expenses of the owner by EGP 15,000 were recorded in the company's accounts by EGP 10,000 8. Machines donations for the Egyptian Government by 15,000 EGP were recorded as expense. 9- Salaries expense includes EGP 300 monthly salary for one of the owner's daughter (salary for same Job EGP 250) 10- Interest expense on car purchased to the owner's wife by EGP 12,000 were not recorded this year Required: Calculate the taxable profit for the year ended 31 December 2018