Is anyone able to help me answer questions a,b,c for this assignment. Really struggling to get some of these answers.

Hamish Ltd needs your assistance in calculating and disclosing the taxation expense for the financial year ended 30 June 2018. Hamish Ltd has supplied you with an extract from their income statement and from their balance sheet as well as a list of other information that need to be considered.

Hamish Ltd

Income statement for the year ended 30 June 2018 Income

Revenue from Sales

Interest Revenue

Rent Revenue

Expenses

Administration and selling expenses Wages and salary expenses Doubtful debts expense

Goodwill impairment

Insurance expense Depreciation expense - plant Long-service leave expenses Warrantee expenses

Net Profit before tax

$

904,000

647,000

257,000

850,000 18,000 36,000

133,000 250,000 20,000 20,000 54,000 90,000 35,000 45,000

Hamish Ltd

Extract from the Balance sheet as at 30 June 2018 Assets

Cash

Inventory

Accounts receivable (net)

Prepaid insurance

Interest receivable

Goodwill

Plant

Liabilities

Accounts payable

Wages and salaries owing

Provision for long-service leave expenses Rent revenue received in advance Provision for warrantee expenses

Loan payable

$

40,000 90,000 80,000

? 6,000

? ?

50,000 30,000 25,000

? 30,000

200,000

The following information relates to the year ended 30 June 2018. Revenue from sales, including those on credit terms, is taxable when the sales are made. Administration and salary expenses are tax deductible when they are incurred. This also applies to wages and salary expenses. The following items that are included in the financial statements of Hamish Ltd are treated differently for accounting and tax purposes: