E The following data are taken from the books of Tides Corporation: Gross profit from business Business expenses 2012 P1,000,000 P1,100,000 2013 1,500,000 1,510,000 2014 1,700,000 1,550,000 2015 1,850,000 1,875,000 2016 2,320,000 2,280,000 The taxable Income in 2016 is: a. P40,000 c. P 25,000 b. P15,000 d. None

E The following data are taken from the books of Tides Corporation: Gross profit from business Business expenses 2012 P1,000,000 P1,100,000 2013 1,500,000 1,510,000 2014 1,700,000 1,550,000 2015 1,850,000 1,875,000 2016 2,320,000 2,280,000 The taxable Income in 2016 is: a. P40,000 c. P 25,000 b. P15,000 d. None

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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