QUESTION TWO The directors of Total engineering Company Limited presented the following Profit and Loss for the year ended 31 December 2022: The following additional information is provided: 1. Purchase retums and sales retums were Sh.500,000 and Sh.700,000 respectively. These were left out while preparng the trial balance. 3. Trade expenses include an amount of Sh 60,000 travel expenses to Korea for the Director as part of the National Chamber of Commerce Trade and Industry promotion tour. 4. Repairs to machinery include small loose tools written off by Sh.10,000 5. Bad debts which are specifically bad are Sh74,000 6. Capital allowances have been agreed at Sh.2,000,000. Required (a)Taxable profits for the year of income 2022 (10 marks) (b) Tax payable if any for 2022 Comment on the results. (2 marks) (c) The company intends to give the Director a company car in 2022. What are the tax implicanons