On Jan 2, 2018, Parker sells to its wholly owned subsidiary equipment that originally cost $160,000. The selling price to the subsidiary was $142,800 and accumulated depreciation on that date was $63,000. The subsidiary depreciates the equipment over the estimated remaining life of 8 years. Required: a. Compute the difference between the annual depreciation expense when Parker owned the equipment and depreciation expense recorded by the subsidiary. b. Compute the gain on sale recorded by the parent. c. Prepare the consolidation entries for 2018 related to the equipment sale. d. Prepare the consolidation entries for 2020 related to the equipment sale.