P owns 40% of S. Professional judgement has applied, and it is concluded that P controls S. The 2019 partial pre-tax income statements of both companies are shown below. Assume no other expenses than indicated below. S Revenues $150,000 $85,000 Miscellaneous Expenses $30,000 Depreciation Expense $40,000 $20,000 $25,000 On January 1, 2019. S sold equipment to P at a profit of $7,000 (before tax). The equipment had a remaining useful life of twenty-five years on that date. During 2019 S declared a dividend of $2,000. Further during 2019, there was a goodwill impairment of $1,000.