In 2011, ParlaCorporation sold land to its subsidiary, Sidd Corporation, for$38,000. It had a book value of $24,000. In the next year (2012),Sidd sold the land for $41,000 to an unaffiliated firm.

The 2011 unrealizedgain from the intercompany sale:

	a.	should be eliminatedfrom consolidated net income by a working paper entry that debitsland for $14,000.
	b.	should be recognizedin consolidation in 2011 by a working paper entry.
	c.	should be eliminatedfrom consolidated net income by a working paper entry that creditsgain on sale of land for $14,000.
	d.	should be eliminatedfrom consolidated net income by a working paper entry that creditsland for $14,000. is the answer A?