Parent Company has a 90% controlling interest in Subsidiary Company. On December 31, 20x8, the carrying value of Subsidiary's net assets in Parent's consolidated financial statements is P100,000 and the carrying value attributable to the non-controlling interest in Subsidiary (including the non-controlling interest's share of accumulated other comprehensive income) is P10,000. On January 1, 20x9, Parent sells 80% of the share in Subsidiary to a third party for cash proceeds of P120,000. As a result of the sale, Parent losses control of Subsidiary but retains a 10% non-controlling interest. The fair value of the retained interest on that date is P12,000. Determine the gain or loss on disposal (or deconsolidation).