Question: ABC's Year 2015 Income statement per GAAP reported a net income before tax P6,000,000. The following are included in the above reported income: dividend

ABC's Year 2015 Income statement per GAAP reported a net income before

ABC's Year 2015 Income statement per GAAP reported a net income before tax P6,000,000. The following are included in the above reported income: dividend income (exempt from income tax) P500,000 Income that would be taxable only in next 2 years 1,200,000 upon collection 23) The total income tax expense of ABC for year 2015 at 35% income tax is

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