Chill Out $($Pty$)$ Ltd is a student restaurant registered as a Small Business Corporation $($SBC$)$ that generates an income of R$90,000$ per month. Every month the food and beverage costs $($cost of sales$)$ amount to R$20,000$ and the company pays R$20,000$ in wages, R$5,000$ in rent for the premises, and R$2,000$ for water and electricity. Assume there are no other costs.

$1.)$ Must Chill Out have a business license to operate? Provide a reference for your answer.

$(3)$

$2.)$ Calculate the business's gross annual income.

$3.)$ Calculate the business's annual tax liability if it is registered as a Small Business Corporation, taking account of allowable deductions. Use the SBC tax table below. $(7)$

$4.)$ Is Chill Out eligible to register for turnover tax?

$5.)$ Calculate the total tax liability for Chill Out if it were registered as a Small Business Corporation using the tax table below.

$(5)$

$\backslash$table$[[$Taxable Income $($R$),$Rite of Tax $($R$)],[1-95750,096$ of taxable income$],[95751-365000,7\%$ of taxable income above $95750],[365001-550000,18848+21\%$ of taxable income above $365000],[550001$ and above,$57698+27\%$ of the amount above $550000]]$