Problem 2: Sander Company presents the following information below: Sales P970,000 Cost of Goods Sold Gross profit Total Operating Expenses Taxable income from business Less: Personal Deduction Less:...

Extracted text: Problem 2: Sander Company presents the following information below: Sales P970,000 Cost of Goods Sold Gross profit Total Operating Expenses Taxable income from business Less: Personal Deduction Less: Additional Deduction 387,000 272600 50,000 50,000 Net Taxable Income TaskRequirements : Compute the gross profit, taxable income from business and tax due for Sander Company.