about participial urgent!

The two sentences are having same meaning. They both said that - the report shows Peter is a good guy.

There are no difference even in the tense :

1.Ths report shows Peter is a good guy. - Present tense

2. The report showing Peter is a good guy. - Present tense

The only mistake is in sentence 2 :

The report ( ) showing Peter is a good guy. The ( ) should be - is
Then the whole sentence will change to :
The report is showing Peter is a good guy - this is not correct grammetically.

Therefore the correct way to write this sentence should be :
The report is showing Peter as a good guy.

If you are still having question, send me a letter and I will try to explain more.

2. the report showing peter is a good guy =
the report that shows peter, is a good guy

if u simply the above sentence, it will be
"the report is a good guy"

so the 2nd sentence is not corret.(in meaning not the grammar)

If u r focusing on the report (not the boy), it will be ok if written like the sentence below
the report showing peter is a good boy is very comprehensive.
=
the report that shows peter is a good boy, is very comprehensive

after simplification, it will be
the report is very comprehensive

the sentence is much making sense than the 1, " the report is a good guy"

clear?