PROBLEM IV. P Corporation acquired a 70% interest in S Company on January 1, 2020 for P11.2M when S Company's stockholders' equity consisted of P5M ordinary share, P6M share premium and P4M retained earnings. On this date. the fair value of S Company's assets are equal to their fair values except for the following, the fair value of inventories (all sold in 2020} and plant assets (5-year remaining life} are less than their carrying values by P12 0,000 and P200,000, respectively. P Corporation opted to measure NCI at fair value. During 2020, P Corporation and S Company reported net income of P560,000 and P300,000. During the year, P Corporation received a cash dividend of Pl?5,000 from S Company. 1. Compute for NCINIS and NCINAS