You are requested to reconstruct the accounts of Holen Laboratory for analysis. The following data were made available for you: Gross margin for 2020 P472,500 Ending balance of merchandise inventory P300,000 Total stockholders' equity as of December 31, P750,000 2020 Gross margin ratio 35% Debt to equity ratio 0.8:1 Times interest earned 10x Quick ratio 1.3: 1 Ratio of expenses to sales 18% Long term liabilities consisted of bonds payable with interest rate of 20% Based on the information above, answer the following: 1. What was the net income before tax for 2020? 2. Total current assets amounted to