Extracted text: QUARTERLY INCOME TAX RETURNS 2-8. The following cumulative balances during the year on income and expenses were provided by Juan Dela Cruz, a resident citizen: 1st Q P300,000 120,000 20,000 2nd Q P650,000 262,000 20,000 3rd Q P910,000 P1,200,000 405,890 30,000 Year Gross Profit from Sales Business expenses Dividends-domestic corp. Interest income from BPI UCPB Metro Bank 426,700 30,000 4,000 8,000 5,000, 150,000 Selling price-P600,000; Cost-P450,000 8,000 12,000 10,000 150,000 12,000 16,000 15,000 150,000 16,000 18,000 30,000 150,000 Capital gain on sale of Land: REQUIRED: Using above information, compute the following 1. Income tax payable, first quarter 2. Income tax payable, second quarter 3. Income tax payable, third quarter 4. Income tax payable, fourth quarter 5. Total final taxes (for the year) on passive income 6. Total capital gains tax