PROBLEM 1 Maikli Corporation stated its operation on 2015. The company has the following data: 2019 2020 2021 Sales P1,700,000 P2,300,000 P3,000,000 Cost of Sales 1,050,000 1,425,000 1,975,000 Operating Expenses 615,000 480,000 775,000 Requirements: 1. Assume that Maikli is a domestic corporation. How much is the income tax payable for the year 2019, 2020 and 2021? 2. Assume that Maikli is a resident foreign corporation. How much income tax payable for the year 2020 and 2021? PROBLEM 2 Makulit Corporation is a domestic corporation. It started operation in 2018. It has the following data in 2020: Sales P 64,125,000 Cost of Sales 42,750,000 Operating Expenses 9,545,000 Total assets (including the land worth P6,250,000) 145,750,000 Compute income tax payable for the year 2020. PROBLEM 3 Agency Corporation has the following data during the year. 1 st Quarter 2nd Quarter Normal income tax P10,000 P12,000 Minimum corporate income tax 8,000 25,000 Taxes withheld during the quarter 2,000 3,000 Excess MCIT prior year 3,000 Excess w/tax prior year 1,000 Compute income tax payable for the 1" and 2" quarter