Hi I need help on what is the answer for this taxation activity. Below is the problem and other concerns will be in the comments section. I hope that you can help me and surely I will give you full positive feedbacks

Activity 1

E @J 0 \"nd\" 31% I 3:02 pm 6 LEARNING MODULE INCOME T... E 2. Banana Corporation was organized on December 29, 2013. It was registered with the Bureau of Internal Revenue in 2014. From 2014 to 2016 the corporation suffered losses. In 2017, its gross income amounted to P 2,250,000 while the tax payable was P 42,000. In the following year, the gross income was P 5,000,000 while the expenses incurred was P 4,700,000. a. What year shall Banana Corporation be subject to the application of the minimum corporate income tax? b. ls the corporation subject to minimum corporate income tax in 2018 based on the data given above? 3. The records of Melon Scent Corporation which was organized in 2009 show the following: 2017 2018 Gross Sales P 5,250,000 P 2,850,000 Sales Returns and discounts 175,000 295,000 Cost of goods sold 620,000 1,200,000 Deductions 4,200,000 850,000 REQUIRED: Compute the income tax payable for 2017 and 2010 25/26 (4 O' Call 31% 3:01 pm LEARNING MODULE INCOME T... : Sample Problem Sec Duque sold a residential house and lot held for P 10,000,000 to his friend. Its FMV when he inherited it from his father was P 12,000,000 although its present FMV is P 15,000,000. Compute for the Capital Gains Tax Solution: TAX BASE Selling Price P 10,000,000 FMV upon inheritance 12,000,000 FMV at present 15,000,000 Tax Base = P 15.000.000 HIGHEST Capital Gains tax = P 15,000,000 x 6% = P 900,000 Exercises: 1. The Taxpayer is a citizen of the Philippines Selling Price at Fair market value, of land and building in the Philippines held as capital asset P 5,000,000 Cost of Building 3,000,000 How much is the Capital gains Tax? 2. The taxpayer is a citizen of the Philippines. Real properties sold wer 18/26 capital assets: Selling Prices of Real Properties in the Philippines Land in Quezon City P 6,000,000 Land in Makati City P 7,000,000 Cost Land in Quezon City P 5,000,000 Land in Makati City P 7,500,000