Task 2: Companies From the following Income statement and the additional information of Gordon engineers Pty Ltd, a base rate entity (a) Prepare a statement reconciling accounting profit to taxable income for the year ended 2022. (b) Calculate the net tax payable/refundable of the company YEAR ENDED 30 June 2022 Operating Income (Note 1) Less: Operating expenses Depreciation (note 2) Impairment of goodwill Increase in leave provisions (note 3) Wages (note 4) Tax related expenditure (note 5) Other deductible Loss on sale of shares (note 6) Entertainment expenses (note 7) Loss on sale of machinery (note 8) Net loss Note 1: Gross Fees NSW TAFE GOVERNMENT Dividends received (franking credit $5,000) Exempt income 52,000 25,000 18,000 588,000 115,000 117,000 25,000 12,000 19,000 950,000 900,800 20,000 8,500 971,000 - 21,000