How much is the income tax payable in 2023?
Extracted text: For questions 31 and 32 Dalagang Pilipina Company was incorporated on June 12, 1898. It uses the fiscal year which begins from May 1 and ends on April 30 of the next year. For the years ending April 30, 2022 and April 30, 2023, the following are the results of operations: 2022 14,000,000 16,000,000 (8,000,000) (9,000,000) 6,000,000 (5,930,000) 70,000 2023 Sales Less: Cost of sales Gross profit Less: Expenses Net income 7,000,000 (3,500,000) 3,500,000 Dalagang Pilipina Company has assets amounting to P240,000,000 which includes a parcel of land amounting to P50,000,000.