4) P Company owns 90% of the outstanding purchased the land for OMR 400,000. 2012, S Company sold land to P Company for OMR 600,000. S Company originally On January 1, 2013, P Company Sold the land purchased from s Company to a company A. Calculate the amount of gain on the sale of the land that is recognized on the books of common stock of s Company. On January 1. P Company in 2013. B. Calculate the amount of gain on the sale of the land that should be recognized in the consolidated financial statements in 2013. C. Prepare in general journal form the workpaper entries necessary because of the inter company sale of land in the consolidated financial statements workpaper for the year ended December 31, 2013. outside the affiliated group for OMR 700,000