The taxpayer is a domestic corporation: Gross sales P 9,350,000 Sales returns and allowances 250,000 Sales discounts 100,000 Interest income on trade notes receivable 150,000 Other income 50,000 Cost of sales 3,000,000 Operating expenses with vouchers and receipts 4,000,000 Interest income from savings deposits 80,000 Interest income from deposit under FCDS 125,000 Royalty income 100,000
The taxpayer is a domestic corporation:
Gross sales P 9,350,000
Sales returns and allowances 250,000
Sales discounts 100,000
Interest income on trade notes receivable 150,000
Other income 50,000
Cost of sales 3,000,000
Operating expenses with vouchers and receipts 4,000,000
Interest income from savings deposits 80,000
Interest income from deposit under FCDS 125,000
Royalty income 100,000
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