ORANGE Company reported the following results for the year ended December 31, 2020, its first year of operations:

- Income per books before income taxes, P750,000

- Income per income tax return, P1,200,000

The disparity between the book income and the taxable income is attributable to a temporary difference which is expected to reverse within twelve months from the end of the reporting period. Enacted tax rate is 30% for current and future periods. What is the amount of deferred tax asset to be classified as current assets in ORANGEs December 31, 2020 statement of financial position?