On January 1, 2019, S Corp. purchased a computer with an expected economic life of 20 years. On January 1, 2021, S Corp. sold the computer to G Co. and recorded the following entry: Cash Accumulated depreciation Loss on sale of equipment Computer equipment P30,000 4,000 6,000 P40,000 S Corp. holds 60 percent of the voting shares of G Co. G Co. reported net income of P45,000, and S Corporation reported income from its own operations of P85,000 for 2021. There is no change in the estimated economic life of the equipment as a result of the intercorporate transfer. How much is the consolidated net income for the year 2021?