Trust Ltd is a company which trades as a manufacturer of specialist Tissue boxes. The company's statement of profit or loss for the year ended 31 March 2020 is as follows: BD BD Gross profit 600,000 Other Income Profiton disposal of office building 60,000 Bank interest received 8,000 Expenses Depreciation 17,000 Professional fees 30,000 Repairs and renewals 40,000 Other expenses 25,000 (112,000) Finance costs Interest payable (25.000) Profit before taxation 531.000 Notes (1) Expenditure not allowed for taxation purposes: Depreciation (cap|tal) 60,000 Legal fees - share capital 9,000 Other expenses: qualifying charitable donation 1,000 Non-trading Loan interest pald 25,000 (2) Other information: Office building profit 60,000 Bank Interest received 5,000 (3) The chargeable gain on sale is 50,000 and the rate of corporation tax is 26% Required: Compute (a) The trading profits for the year ended 31 March 2020 (b) The taxable profits for the year ended 31 March 2020 (c) The corporation tax liability for the year 31 March 2020 (D) Journal entries of recording tax liability and when make payment to government in the scope of IFRS 1 Accounting policy Out of the IFRS 1 Scope Accounting estimate Interim Financial Statements Objectives of IFRS 1