Pavement Company acquired an 80 % interest in Sand Corporation on January 1, 2014 at a cost equal to carrying amount and fair value. In the same year Sand sold land costing $30,000 to Pavement for $50,000. On July 1, 2019, Pavement sold the land to an unrelated party for $110,000. What was the gain reported on the 2019 consolidated income statement? Multiple Choice $60,000 $80,000 $64,000 $48.000