The following is the Profit and Loss Account of X Ltd. for the year ended 31st December 2019, before providing for the following: 1. Directors commission of 1% on Net Profit. 2. Managerial commission of 10% on Net Profit. To depreciation on fixed assets 30000 By Gross Profit 500000 To Compensation (voluntary). 5000. By Profit on investment sold (non trading). 20000 To other expenses. 340000 To Net Profit 145000 520000 520000 Note: Depreciation allowance for income tax purposes amount to $25,000. Redraft the Profit and Loss Account after providing for the amount of managerial commission on Net Profit due in accordance With the Provisions of the Companies Act and show the computation of such amount of commission.