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For the year ended 31 July 2017 Glomar Bay Distributors Limited (GDL) made taxable trading profits of $7,200,000 on which income tax is payable at 25%.
Problem 1: Calculate the tax charge for the year to 31 July 2017.
Problem 2: Calculate the tax liabilities in the statement of financial position of GDL as at 31 July 2017.
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