16 Required information On January 1, 20X7, Server Company purchased a machine with an expected economic life of five years. On January 1, 20X9, Server sold the machine to Patron Corporation and recorded the following entry: Part 2 of 4 45,000 28,000 Cash Accumulated Depreciation Machine Gain on Sale of Equipment 70,000 3,000 Patron Corporation holds 75 percent of Server's voting shares. Server reported net income of $50,000, and Patron reported income from its own operations of $100,000 for 20X9. There is no change in the estimated economic life of the equipment as a result of the intercorporate transfer. Based on the preceding information, in the preparation of the 20x9 consolidated balance sheet, machine will be: Multiple Choice debited for $1,000. debited for $15,000. credited for $45,000. debited for $25,000