Company B is a wholly owned subsidiary of Company A. At the beginning of 2017 Company B purchased a van for $40,000. When this van was depreciated Company B sold the van to Company A for $12,000. On a consolidated income statement what gain or loss should be shown on the sale of the van from Company B to Company A?

a Gain $2,000.

b Loss $2,000.

c No gain or loss.

d Gain $12,000.

e Loss $2,800.