\f\fREQUIRED: Using the template proyided: I Prepare a statement reconciling net profit with taxable income I Calculate the net tam: payable by the company for the yearJ clearly showing all your workings I In addition to the ATE), as a Tax Agent who would you consult if you required adyice and guidance to determine any income tax related issues? Part B - Task 1 'Note- Please show all iwrkings where necessary and you may use oddionolspoce below Please write your workingsfexplanations and answers in Blue cells [1] Prepare a statement reconciling net profit with taxable income ' Net Profit per Financial Report Amgunt Reasons or hiring??? applicable} Enter amgunt here Net Prot 1,305,500.00 1,305,500 ADD BACK: Interest on Loan to purchase rental property in Italy 3,500.0 This expense is not deductible fortax purposes Provisionsfor customer warranty claims 30,0000 This expense is provision not an actual expense Accounting Depreciation 24,0000 Difference between accounting 81 tax depn Share Lossfrom Partnership with AI Insulation PL 1,300 Equals ADJUSTED NET PROFIT Deductible Expenses 1,300,000 Total Less Amount Equals TAXABLE INCOME [2] Calculate the net tax payable by the company for the year, clearly showing all your workings Tax on Taxablelncome 5 54300 11682.50 Tax PayableRefundable] [3] Who would you consult if you required advice and guidance to determine any income tax related issues? Write your answers