Statement of Financial Position
	2021	2022	2023
Assets
Current Assets
Cash and cash equivalents	20,000,000	30,000,000	40,000,000
Accounts receivable	5,000,000	20,000,000	60,000,000
Land classified as inventory	40,000,000	38,000,000	80,000,000
Total Current Assets	P 65,000,000	P 88,000,000	180,000,000
Non-Current
Office Building	10,000,000	12,000,000	15,000,000
Land (where office is situated)	100,000,000	100,000,000	100,000,000
Total Non-Current Assets	110,000,000	112,000,000	115,000,000
Liabilities	55,000,000	55,000,000	80,000,000
Stockholders Equity	120,000,000	145,000,000	215,000,000

Statement of Comprehensive Income
	2021	2022	2023
Gross sales	P 6,000,000	P 20,000,000	P 35,000,000
Cost of sales	2,000,000	10,000,000	20,000,000
Expenses	3,850,000	5,000,000	5,000,000
Net income	P150,000	P 5,000,000	P 10,000,000

The income tax payable of ABC Corporation for the taxable year 2023 is:

Group of answer choices

b. 2,000,000

d. 2,500,000

a. 3,000,000

c. 225,000