Parent Company owns 90% of the outstanding common stock of Sub Company. On January 1, 2021, Sub Company sold land to Parent Company for 80000. Sub Company originally purchased the land for 56000. On January 1, 2022, Parent Company sold the land purchased from Sub Company to a company outside the affiliated group for 111000. 1. The amount of gain on the sale of the land that is recognized on the books of Parent Company in 2022 is .

2. The amount of gain on the sale of the land that should be recognized in the consolidated financial statements in 2022 is .

3. The Gain on Sale is credited in the amount of as part of the journal entry necessary because of the intercompany sale of land in the consolidated financial statements workpaper for the year ended December 31, 2022.