Additional information: 1. On July 1, 2018 Anna sold equipment with a net book value of $60,000 to Elsa for $80,000. At the date of sale, this equipment had an estimated useful life of five years with no residual value. 2. On January 1, 2019 Anna sold land to Elsa for $56,000. This item had a carrying value at the day of sale of $40,000. 3. During 2018 Elsa sold inventory to Anna for $50,000 with a gross profit of 20%. At year end 6