The retained earnings of Korina Corporation (a family-closed corporation) at the start of the year has a credit balance of P2,500,000 which is equal to its paid-in capital. During the year, the corporation reported the following data, but no dividend was distributed:

Net income after tax of 30% P1,050,000

Interest income, net of 20% final tax 120,000

Capital gain on shares of stock, net of capital gains tax 230,000

Income tax paid for the first three quarters 350,000

NOLCO deducted from taxable operating income 100,000

Can you show me the proper solution in getting the total income for GAAP reporting and its GAAP income after tax. Also, how can I get or proper way in computing forthe Total income tax paid for the year, before IAET and IAET?