ACCOUNTING FOR INCOME TAX

CARL DE RETA Co$.$ reported net income for the current year $2014$ at P$10,000,000$ before taxes. Included in the determination of the said net income were:

$\backslash$table$[[$Temporary differences:,$],[$Accrued warranty expenses,$250,000],[$Rental payments made in advance,$400,000],[$Advance collections from customers,$500,000],[$Provision for probable losses,$900,000],[,],[$Permanent differences:,$500,000],[$Non$-$taxable income,$100,000]]$

${?}^{**}$ The income tax rate is $40\%$ and is not expected to change in the future.

REQUIRED:

$(1)$ How much is the current tax expense?

$(2)$ How much is the total tax expense?

$(3)$ What is the total deferred tax asset to be presented in the $2014$ statement of financial position?

$(4)$ What is the total deferred tax liability to be presented in the $2014$ statement of financial position?

$(5)$ Assuming that the expected income tax rate for the following year is $35\%,$ what is the total tax expense?