3-During 2020, Parent sells land to Subsidiary for $226,800. The land had a book value of $159,000. The land is then sold to an unaffiliated party for $303,000 in 2024. Required: a. Prepare the consolidation entry related to the land sale for 2020. b. Prepare the consolidation entry related to the land sale for 2021. c. Prepare the consolidation entry related to the land for 2024. d. What will be the gain on sale on the 2024 consolidated income statement? 4-On Jan 2, 2020, a subsidiary sells to its parent equipment that had cost $40,000. The selling price was $36,000 and accumulated depreciation on that date was $14,000. The subsidiary and the parent both estimate that the equipment has a remaining useful life of 10 years. Required: a. Compute the difference between the annual depreciation expense when the subsidiary owned the equipment and depreciation expense recorded by the parent. b. Compute the gain on sale recorded by the subsidiary. C. Prepare the consolidation entries for 2020 related to the equipment sale. d. Prepare the consolidation entries for 2022 related to the equipment sale