REQUIRED: Calculate the profits tax payable by Beauty Wealth Trading Limited (no connected entity) for the year of assessment 2021/22 (Ignore provisional tax and tax rebate) PLEASE GIVE ME FULL STATEMENT INSTEAD OF JUST EXPLAINING THANKS :)

Beauty Wealth Trading Limited carries on trading business in Hong Kong. During the year ended 31 March 2022, the profit and loss account is as follows: \begin{tabular}{lr} Income & \\ Sales & HK$ \\ Less: cost of sales & 18,885,000 \\ Gross profit & 13,485,000 \\ \cline { 2 - 3 } Dividend income & 5,400,000 \\ Interest income (note 1) & 300,000 \\ Gain on disposal of fixed assets (note 2) & 295,000 \\ Expenses & 20,000 \\ \hline Audit fee & 6,015,000 \\ Bad debts (note 3) & \\ Interest expenses (note 4) & 15,000 \\ Insurance & 125,000 \\ Salaries and allowances & 314,000 \\ Legal and professional fees (note 5) & 19,500 \\ Electricity and water & 1,045,500 \\ Mandatory provident fund (note 6) & 305,250 \\ Repairs and maintenance (note 7) & 18,000 \\ Rent & 245,000 \\ Donations (note 8) & 59,000 \\ Depreciation & 580,500 \\ Other allowable expenses & 85,000 \\ Net profit & 235,000 \\ & 2,553,000 \\ \hline \end{tabular} Note 1 Interest income On HK\$ savings account with Bank of China in Hong Kong On USS time deposits with a bank in Canada 105,000190,000295,000 Note 2 Computers Net book value Sales proceeds Gain Cost of computer of HK$80,000 was deducted in the year of acquisition 2018/19 Note 3 Bad debts Loans to staff Increase in general provision Note 4 Interest expenses Paid on loan obtained from a company carries on business in 90,000 Hong Kong Paid on bank overdrafts The bank loans and overdrafts were obtained for daily operation of the company Note 5 Legal and professional fees ForrenewaloftheofficesleaseForpreparingbankoverdraftagreementFortaxappeal25,00031,500248,750 Note 6 Mandatory Provident Fund Annual contributions (5-10\% of salaries) Special contributions 150,00095,000245,000 Note 7 Repairs and maintenance New addition of knives, cups and glasses Repairs of toilet Re-decoration of office 10,00029,00020,00059,000 Note 8 Donations 10 sets of computer to Po Leung Kuk Cash to Community Chest Other information The assessor has agreed that the total depreciation allowances for the year of assessment 2021/22 is $180,000