16. When an inter-company gain on sale of land is finally realized by sale of the land to an outsider, the consolidated gain on sale will equal A) the gain recorded by the affiliate that resold the asset to the outsider. B) the deferred gain. C) the sum of the recorded gain on sale to the outsider and the deferred gain. D) the difference between the recorded gain on sale to the outsider and the deferred gain. 17. The consolidated statement of cash flows is A) prepared from the consolidated comparative balance sheets and income statement. B) prepared prior to the elimination of intercompany balances. C) prepared from the pre-consolidation balance sheets and income statements of the combining firms. D) the sum of the statements of the pre-consolidation cash flows of the individual companies. 18. When preparing a consolidated balance sheet, the noncontrolling interest amount must be presented: A) It is not disclosed on the balance sheet. B) In the notes to financial statements. C) As a part of liabilities. D) As a part of stockholders' equity