1- Under Equity method, what needs to be eliminated? State them.

2- Assume that o December 31, 2019, Parent's Investment in Subsidiary account has a balance of $468,000. Also assume that Parent's 80% interest in Subsidiary has a fair value of $510,000. On January 1, 2020, Parent sells half (remaining 40%) of Subsidiary's shares for $275,000. How should Parent account for this transaction? Determine Gain Loss on Sale (Show you fall calculation step by step

i need it as a text and in details