1. Parent owns 70 percent shares in Subsidiary. On August 31, 2019, Parent sold half of its interest in S. On the date, the book value of Ps 70% share of S is $80,000 and the fair value of S as a whole is $235,000. How much is the gain on the sale of half of Ps interest in S?

a. 77,500

b. 0

c. 84,500

d. 42,500

2. Also, I think I did the one below correct could you just say whether I did or not? Thanks in advance!!!

When a parent owns less than 100% of a subsidiary, the noncontrolling interest shareholders are allocated their ownership percentage of income or net assets in all of the following consolidating entries except for: The account receivable and payable elimination entry The basic investment account consolidation entry The amortized excess value reclassification entry The excess value (differential) reclassification entry