21) P Corporation acquired a 60% interest in S Corporation on January 1, 2017, at book value equal to fair value.During 2017, P sold merchandise that cost $225,000 to S for $315,000.One-third of this merchandise remained in S's inventory at December 31, 2017.S reported net income of $200,000 for 2017.P's income from S for 2017 is:

a) $60,000.

b) $90,000.

c) $120,000.

d) $102,000

how 120,000?