0% of David. In 2012, Stevens has net income of David has net income of $60.000 has net income of $60,000. Danization assn intercompany sale of land to Stevens. Finally, Stevens had a Stevens owns There is also $4,000 of annual excess with David's acquisition $80,000 and 3,000 5,000 gainn $5,000 gain on an 3000 gam on an intercompany sale of land to David. How much is the equipment phas David had a interest in subsidiary net income. 70% of Free. In 2012, Davis reports sales of$200,000 which includes Davis ownis ales of $160,000 and intercompany sales of $40,000. Cost of goods partye $80,000. Free reports sales of $150,000 of which $50,000 ar for Davis are nany. How much are consolidated sales. sold 1o ons 60% of Larsen. In 2012 Gulko reports Sales of$4,000,000, which includes cportslidated Sales. party sales of S3,500,000 and intercompany sales of $500,000. Larsen intercompany sales of $200,000 and total sales of $700,000. How much is Hand owns 90% of Finger. In 2008, Hand purchased Land from third parties for $500,000. On January 1, 2012 Hand sells Land to Finger for $800,000. Finger holds the Land until December 31, 2015 and sells it for $2,000,000 How much is consolidated gain on sale of Land for the year ended December 31, 2012 b. How much is consolidated Land at December 31, 2012 e. How much is consolidated gain on sale of Land at December 31, 2015 d. At December 31, 2015 how much is debited to Retained Eanings as part of the necessary worksheet entry at that date Parent buys building (useful life 10 years) for $3,000,000 on January 1,2012. On that same date, parent sells building to 80% owned subsidiary for$4,000,000. Subsidiary will use the same 10 year depreciable life How much de a b. preciation expense will the subsidiary record in 2012. How much is consolidated depreciation expense in 2012 How much is the worksheet entry to eliminate excess depreciation in 201