For the next two items, consider the following information: Mr. Cruz, had the following data during the year: Gross income from business P1,000,000 Long-term Capital gain 50,000 Short-term Capital loss 20,000 Operating expenses 400,000 Based on the above data, but IF the taxpayer is a corporation, how much is the taxable income? P 555,000 P 630,000 P 580,000 P 605,000