Parent Company owns 80% of Subsidiary company. On January 1, 2020, Subsidiary sold Equipment to Parent Company for $900,000; Subsidiary had purchased these Equipment for $1,200,000 on January 1, 2010, at which time their estimated useful life was 15 years. The estimated remaining useful life, on 1 January 2020, is 5 years. Both companies employ the straight-line method of depreciation. In the consolidated workpapers for the year ended December 31, 2021, net adjustment to Retained Earnings of Parent (after adjusting for the gain on disposal, and excess depreciation) would be: O credit to Retained Earnings of Parent for $400,000. credit to Retained Earnings of Parent for $80,000. credit to Retained Earnings of Parent for $320,000. Odebit to Retained Earnings of Parent for $400,000. O debit to Retained Earnings of Parent for $320,000