P company bought 60% of common stock of S company on January 1, 20x4

P company bought 60% of common stock of S company on January 1, 20x4. On January 1 20x5, there was an intercompany gain of sale of equipment of P63,000. The equipment has an estimated remaining life of 6 years with no salvage value. Net income from own operations of P and S were as follows:
Company                               20x5                 20x6
P Company                           280,000            210,000
S Company                           70,000              105,000
Assuming downstream sale determine NCI share in net income of S in year 20x6