Joy, a purely self-employed individual, signified his intention to be taxed at the 8% tax rate. Hepresented the following information. (Refer to the table below). The business maintains a costof sales throughout the year equal to 60% of the gross sales.Quarterly Gross Sales/Receipts1t quarter2nd quarter3rd quarter4th quarterQuarterly Operating Expenses1* quarter2nd quarter3rd quarter4th quarterPhp. 400,000500,0001,800,0003,500,000Php. 80,000120,000360,000550,000COMPUTE FOR THE TAX STILL DUE AND PAYABLE FOR THE 3RD QTRCOMPUTE FOR JOY ANNUAL TAXABLE INCOME.COMPUTE FOR THE TOTAL TAXES PAID FOR THE PAST THREE QUARTERSCOMPUTE FOR JOY INCOME TAX STILL DUE AND PAYABLE

Honor Code- Since you have posted a question with multiple sub-parts, we will provide the solution…

Joy, a purely self-employed individual, signified his intention to be taxed at the 8% tax rate. He presented the following information. (Refer to the table below). The business maintains a cost of sales throughout the year equal to 60% of the gross sales. Quarterly Gross Sales/Receipts 1st quarter 2nd quarter 3rd quarter 4th quarter Quarterly Operating Expenses 1st quarter 2nd quarter 3rd quarter 4th quarter Php. 400,000 500,000 1,800,000 3,500,000 Php. 80,000 120,000 360,000 550,000 COMPUTE FOR THE TAX STILL DUE AND PAYABLE FOR THE 3RD QTR COMPUTE FOR JOY ANNUAL TAXABLE INCOME. COMPUTE FOR THE TOTAL TAXES PAID FOR THE PAST THREE QUARTERS COMPUTE FOR JOY INCOME TAX STILL DUE AND PAYABLE