33. Preparing the [] consolidation entries for sale of land Assume on June 15,2015 , a parent company sells land that originally cost $75,000 to its wholly owned subsidiary for a sale price of $97,500. The subsidiary holds the land until it sells it to an unaffiliated company on November 12,2022. The parent uses the equity method to account for its Equity Investment. a. Prepare the required [I] consolidation entry in 2015. b. Prepare the required [I] consolidation entry required at the end of each year 2016 through 2021 . c. Assume the subsidiary resells the land outside of the consolidated group for $127,500 on November 12,2022 . Prepare the journal entry made by the subsidiary to record the sale and the required [I] consolidation entry for 2022. d. What will be the amount of gain reported in the consolidated income statement in 2022 ? e. For this question only, assume the parent used the cost method of pre-consolidation investment bookkeeping. How would the preceding [I] entries differ