-/1 III Pharoah Corp. owns 75% of Flounder Inc. Both companies are in the mining industry. During 2020, Pharoah Corp. purchased a building from Flounder Inc. for $1,520. The building's original cost is $25,000 and its carrying amount in Flounder Inc's financial statements is $1,100. Pharoah's Contributed Surplus account contains a credit balance of $290 from previous related-party transactions. Flounder's Contributed Surplus account is nil. There is no available independent evidence of the value of the building because it is a unique building in a remote part of the country. Pharoah subsequently sold the building during 2021, to an unrelated party for $1,710. Both Pharoah and Flounder follow ASPE. Using the related-party decision tree answer the following. Putatud puity basedon can Is the transaction in the normal of in the town wate the mount the Angered by independent widence NO mary chorar of any Is there exchange Ne Meet How would both Pharoah and Flounder record the purchase and sale of the building during 2020? (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually) Pharoah Corp.: Account Titles and Explanation Debit Credit Flounderne Account Titles and explanation Debit Credit Record the subsequent sale of the building by Pharoah during 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Assume that the transaction is in the normal course of operations for both Pharoah and Flounder and that it has commercial substance. Record the journal entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Pharoah Corp.: Account Titles and Explanation Debit Credit Flounder Inc Account Titles and Explanation Debit Debit Credit Pharoa Corp Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Calculate the total impact on income of the purchase and sale of the building for 2020 and 2021 for the consolidated reportiu unit of the two companies. What can you conclude from your calculation? Total income for 2020 and 2021 will a bys