Assume that on December $31,2020,$ parents Investment in Sub. Account has a balance of SR $400,000.$Also, assume that parents $80\%$ interest in Sub has a fair value of SR$500,000.$ On January $1,2021,$ Parentsells half $($remaining $40\%)$ of Sub shares for SR $240,000.$Required: Compute gains on that sale transaction.

Please show work and please avoid handwritten or excel sheet