Answer it with solutions in good accounting form please please

Problem 3: EL Co. reported net income for the current year 2021 at P560,000 before provision of income tax during the year. To compute the provision for income tax, the following data are provided: Tax depreciation in excess of financial statement amount - P 36,500 Interest income received - 80,500 Rent received in advance - P175,000 Dividend income - 91,700 Estimated tax payment in the current year - 65,000 Provision for bad debts not yet recognized for tax purposes on the current year - P 48,300 Tax penalties due to late filing on tax return - 20,000 Corporate tax rate -30% Required: 11. How much is the taxable income for the year? 12. How much is the current tax expense for the year