A stock split by a subsidiary increases the number of shares outstanding, but it does not affect the net assets of the subsidiary or the individual equity accounts. True False Question 12 (0.5 points) The parent affiliate recognizes a gain on the sale of land to a subsidiary only after the subsidiary sells it to an outside entity. True False Question 13 (0.5 points) The constructive retirement of subsidiary preferred stock through the purchase by the parent is reported as an actual retirement in the consolidated statements. True False