Required:

1. Compute the total taxable income of Redforwayt for the year 2023

2. Compute income tax due of Redforwayt for the year 2023, if he opted to avail 8% income tax rate

3. Compute the income tax due of Redforwayt for the year 2023, if he is a VAT registered person

Mr. Redporwayt, had the following income and expenses for the year As an employee Salary, gross of SSS/Philhealth/Pag-ibig contributions Mandatory government benefits: SSS contributions Philhealth contributions Pag-ibig contributions 13th month pay Performance bonus Medical cash allowance to dependents Rice subsidy As a sole proprietor Sales Cost of Sales Operating expenses P 13,500 9,450 1,200 P 540,000 45,000 45,000 4,000 24,000 P 1,000,000 500,000 200,000