A taxpayer registered in 2010 made available the following financial information for TY2021:

Balance Sheet:

Asset - Php 50,000,000

Liability - Php 30,000,000

Stockholders' Equity - Php 20,000,000

Income Statement:

Gross sales - Php 10,000,000

Cost of sales Php 6,000,000

Operating Expenses - Php 5,900,000

How much is the income tax due under CREATE Law if the taxpayer is a domestic corporation?

Group of answer choices

Php 40,000

Php 0

Php 80,000

Php 120,000