The pre-closing trial balance of DBM-CAR shows the following balances of accounts: Subsidy from National Government P520, 000, Unutilized NCA for the month ending December 31, 2019, amounted to P100,000, Refund of excess cash advance P5,000. Salaries and Wages-Regular P150,000, PERA P50,000 Retirement and Life Insurance Premiums P18,000, Pag-IBIG Contributions P2,500, PhilHealth Contributions P4,500, Travelling expense - local P13,000, Electricity expense P12,000, Telephone Expense P10,000, Rent/Lease Expenses P25,000, Office supplies expense P20,000, Depreciation Expense-Machinery and equipment P15,000.

What is the Excess of Income Over Expenses for the year ended December 31, 2019?