ABC Corp., a DC, registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset – Php 500,000 Liability – Php 100,000 Stockholders’ Equity – Php 400,000

ABC Corp., a DC, registered in 2010 made available the following financial information for TY2021: Balance Sheet: Asset – Php 500,000 Liability – Php 100,000 Stockholders’ Equity – Php 400,000 Income Statement: Gross sales – Php 100,000,000 Cost of sales – Php 60,000,000 Operating Expenses – Php 30,000,000 How much is the excess MCIT which can be carried forward in 2022? Consider CREATE Law Group of answer choices Php 400,000 Php 2,100,000 Php 0 Php 800,000 Transcribed Image Text: ABC Corp., a DC, registered in 2010 made available the following financial information
for TY2021:
Balance Sheet:
Asset – Php 500,000
Liability – Php 100,000
Stockholders’ Equity – Php 400,000
Income Statement:
Gross sales – Php 100,000,000
Cost of sales – Php 60,000,000
Operating Expenses – Php 30,000,000
How much is the excess MCIT which can be carried forward in 2022? Consider CREATE
Law

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