On January 1, 2016, Easy Company acquired an equipment for P8,000,000 The equipment is depreciated using straight line method based on a useful life of 8 years With no residual value. On January 1, 2019, after 3 years, the equipment was revalued at a replacement cost of P 12,000,000 with no change in the useful life. The pretax accounting income before depreciation for 2019 is P10,000,000 The income tax rate is 30% and there are no other temporary differences at the beginning ofthe year. 1. What amount should be reported as deferred tax liability on January 1, 2019 arising from the revaluation? 2. Current tax expense for the current year? 4 3. DTL on Dec. 31, 2019 arising from revaluation 4. Total tax expense? 5. Revaluation surplus Dec. 31, 2019?