E4-32.Stat eBook Print Questo 3 Not complete Maried out of 2700 P Flag Gestion Preparing the consolidation entries for sale of land Assume that during 2015 a wholly owned subsidiary sells and that originally cost $360,000 to parent for a sale price of $400.000. The parent holds the land until it sells the land to an unaffiliated company on December 31, 2019. The parent uses the equity method of pre-consolidation bookkeeping a. Prepare the required to consolidation entry in 2015. Description Debit Credit Tgain Land b. Prepare the required to consolidation entry required at the end of each year 2016 through 2018 Debit Credit Assume that the parent re-sells the land outside of the consolidated group for $420,000 on December 31, 2019. Prepare the journal entry made by the parent to record the sale and the required (consolidation entry for 2019, Description Debit Credit gan d. What will be the amount of gain reported in the corolidated income statement in 2019 $ 0 Check