In its $20$X$7$ consolidated income statement, Plate Development Company reported consolidated net income of $$962,000$ and $$42,000$ of income assigned to the $30$ percent noncontrolling interest in its only subsidiary, Subsidence Mining Incorporated During the year, Subsidence had sold a previously mined parcel of land to Plate for a new housing development; the sales price to Plate was $$465,000,$ and the land had a carrying amount at the time of sale of $$590,000.$ At the beginning of the previous year, Plate had sold excavation and grading equipment to Subsidence for $$249,000$; the equipment had a remaining life of $6$ years as of the date of sale and a book value of $$216,000.$ The equipment originally had cost $$360,000$ when Plate purchased it on January $2,20$X$2.$ The equipment never was expected to have any salvage value.

Plate had acquired $70$ percent of the voting shares of Subsidence eight years earlier when the fair value of its net assets was $$230,000$ higher than book value, and the fair value of the noncontrolling interest was $$69,000$ more than a proportionate share of the book value of Subsidence$$s net assets. All the excess over the book value was attributable to intangible assets with a remaining life of $10$ years from the date of combination. Both parent and subsidiary use straight$-$line amortization and depreciation. Assume Plate uses the fully adjusted equity method.

a$.$ Record the entry to eliminate the gain on equipment and to correct the asset's basis.

Investment in Subsidence DR $?$

Equipment DR $111,000$

Accumulated Depreciation CR $?$

b$.$ Record the entry to adjust Accumulated Depreciation.

Accumulated Depreciation DR $?$

Depreciation Expense CR $?$

c$.$ Compute Subsidence$$s $20$X$7$ reported net income.

d$.$ Compute Plate$$s $20$X$7$ income from its own separate operations, excluding any investment income from its investment in Subsidence Mining.