SESAME-SEED Company has a bonus agreement that provides that the senior managers will receive an annual bonus of 12% of the net income after bonus and tax. The income tax rate is 30%. The senior managers received ₱250,000 for the current year as a bonus. What is the net income before bonus and tax?
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SESAME-SEED Company has a bonus agreement that provides that the senior managers will receive an annual bonus of 12% of the net income after bonus and tax. The income tax rate is 30%. The senior managers received ₱250,000 for the current year as a bonus.
What is the net income before bonus and tax?
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