Parent Company holds 75 percent of Surrogate Companys voting common shares. On December 31, 20X8, Parent recorded a loss of $20,000 on the sale of equipment to Surrogate. At the time of the sale, the equipments estimated remaining economic life was eight years. Required: a. Will consolidated net income be increased or decreased when consolidation entries associated with the sale of equipment are made at December 31, 20X8? By what amount?