METRO Medical Educational lastitution is a business school with fiscal year ending on May 31,2022

Tuition fees70,000,000

Miscellaneous fees-20,000,000

Income of a centeri used in training business students-15,000,000

Rentals for spaces leased for commercial food stores-100,000

Interest in bank deposits-100,000

Allowable deductions and expenses- 99,000,000

To calculate the taxable income, we need to add all the income sources and then subtract the allowable
deductions and expenses.

Here's the calculation:

Total Income:

Tuition fees: 70,000,000

Miscellaneous fees: 20,000,000

Income from the training center: 15,000,000

Rentals for spaces leased: 100,000

Interest in bank deposits: 100,000

So, the total income is 70,000,000 + 20,000,000 + 15,000,000 + 100,000 + 100,000 = 105,200,000

Then, we subtract the allowable deductions and expenses: 105,200,000 – 99,000,000 = 6,200,000
So, the taxable income is 6,200,000.

Now, to calculate the income tax due, we need to apply the corporate tax rate. In the Philippines, the
corporate income tax rate is 25%.

So, the income tax due is 25% of 6,200,000 = 1,550,000.

Therefore, the income tax due at the end of the period is 1,550,000.