The management of Matunda Matamu Limited has presented the following trading and profit and loss account for the year ended 31 December 2019: Sales Ksh. *000* Ksh. '000' 18,500 Less cost of sales: Opening Stock 4,200 Purchases 5,600 Cost of goods available for sale 9,800 Closing stock (2,400) (7,400) Gross profit 11,100 Other incomes: Gain on sale of equipment Interest on savings account (gross) Divided for a quoted company Gain on foreign exchange transactions Expenditure: Goodwill amortization 120 40 80 100 11,440 25 Legal expenses 420 Salaries Bad debts NSSF contribution 2,000 500 60 General expenses 600 Advertising 300 Staff meals 190 Travelling expenses 180 Donations to a trade association 40 Property rates 45 Depreciation 150 Interest on long term 300 Interest on bank overdraft 80 Insurance premiums 124 Cost of stolen stock 20 Provision for bad and doubtful debts 200 Branch closure costs 100 (5,334) Net profit 6,106 1. The closing stock on 31 December 2019 was valued at a cost plus a mark up of twenty per cent. Legal expenses related to: Preparation of the Memorandum of Association Conveyance fees on purchase of land Renewal of 89 years lease Settling customer disputes Ksh. 150,000 60,000 90,000 100,000 Acquisition of a bank loan 2. Sales (expense) includes: Directors allowances Christmas gifts to staff Golden handshake to a retiring director 20,000 420,000 Ksh. 720,000 600,000 400,000 3. Bad debts include: Loan to director 200,000 Estimated defaults by trade 120,000 debtors 4. Advertising expense includes Ksh. 100,000 for a neon sign 5. Twenty per cent of the travelling expenses relate to the private usage of company motor vehicles. 6. Capital allowances were agreed with the revenue authority at Ksh.200,000. a. Adjusted taxable profit or loss for Matunda Matamu Limited for the year ended 31 December 2019. b. The tax payable by Matunda Matamu Limited (if any) for the year ended 31 December 2019 c. Determine the dates when tax computed in (b) above is payable given that the taxable profits for the year ended 31 December 2018 was sh.3,200,000