1)P Corporation acquired an 80% interest in S Corporation two years ago at an implied value equal to the book value of S. On January 2, 2017, S sold equipment with a five-year remaining life to P for a gain of $180,000. S reports net income of $900,000 for 2017 and pays dividends of $300,000. Ps Equity from Subsidiary Income for 2017 is:

a) $720,000.

b) $576,000.

c) $604,800.

d) $864,000

2)P Company purchased land from its 80% owned subsidiary at a cost of $30,000 greater than it subsidiarys book value. Two years later P sold the land to an outside entity for $15,000 more than Ps cost. In its current year consolidated income statement P and its subsidiary should report a gain on the sale of land of:

a) $15,000.

b) $36,000.

c) $39,000.

d) $45,000.

3)On January 1, 2016, P Corporation sold equipment with a 3-year remaining life and a book value of $100,000 to its 70% owned subsidiary for a price of $115,000. In the consolidated workpapers for the year ended December 31, 2017, an elimination entry for this transaction will include a:

a) debit to Equipment for $15,000.

b) debit to Gain on Sale of Equipment for $15,000.

c) credit to Depreciation Expense for $15,000.

d) debit to Accumulated Depreciation for $10,000.

Please show me step by step so I can learn from this thank you..