Question: Yutong (K) ltd which is a micro-enterprise has presented the following income particulars for the year 2022; Ksh 000 Sales 7,379,600 Purchases 3,193,900 Closing stock

Yutong (K) ltd which is a micro-enterprise has presented the following income particulars for the year “2022”;

Ksh ‘000’
Sales7,379,600
Purchases3,193,900
Closing stock570,000
Interest from Loan Stocks held in Singapore123,120
Discount received101,650
Dividend from EABL (K) ltd509,200
Operating expenses –allowable3,496,000
Depreciation228,000
Finance cost372,400

Additional information:

1. The closing stock above is undervalued by 20%. The opening stock was ksh. 285,000

Required:

Calculate the taxable income for company for the year “2022”.

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