Peak Corporation owns 75 percent of Summit Company's voting shares, acquired on March 21,205, at book value. At that date, the fair value of the noncontrolling interest was equal to 25 percent of the book value of Summit Company. On January 1, 20X4, Peak paid $150,000 for equipment with a 10-year expected total economic life. The equipment was depreciated on a straight-line basis with no residual value. Summit purchased the equipment from Peak on December 31,206, for $140,000. Summit sold land it had purchased for $75,000 on February 18, 20X4, to Peak for $60,000 on October 10, 207. repare the consolidation entries for 208 related to the sale of depreciable assets and land if Peak uses the fully adjusted equity nethod to account for its investment in Summit