GOLD Company reported taxable income of P12,000,000 for the year ended December 31, 2020. The controller is unfamiliar with the required treatment of temporary and permanent differences in reconciling taxable income to pretax financial income and has contacted your firm for advice. You are given the following information extracted from GOLDs accounting records:

- Book depreciation in excess of tax depreciation, P430,000

- Interest earned on government securities, P450,000

- Excess entertainment and representation expenses over the tax-allowed amount, P290,000

- Accrual for warranties at the end of the year, P220,000

How much is GOLDs financial income before income taxes for 2020?