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What is the pretax financial income

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Reference no: EM132797443

Andee Company has cumulative taxable temporary differences on December 31, 2020 and December 31, 2019 of P1,350,000 and P960,000 respectively. The tax rate enacted for 2020 is 40% while the tax rate enacted for future years is 30%. Taxable income for 2020 is P2,400,000 and there are no permanent differences.

Problem 1: What is the pretax financial income for 2020?

A. 2,790,000
B. 2,010,000
C. 1,050,000
D. 3,750,000

Reference no: EM132797443

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