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Justings Co. owned 80% of Evana Corp. During 2018, Justings sold to Evana land with a book value of $48,000. The selling price was $70,000.

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Justings Co. owned 80% of Evana Corp. During 2018, Justings sold to Evana land with a book value of $48,000. The selling price was $70,000. For purposes of the December 31, 2018 consolidated financial statements, at what amount should the land be reported? Multiple Choice $56,000. 0 $17,600. $70,000. $22,000. $48,000

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