Play Inc. owns 100% of Station Corp.s common stocks. On January 1, 2015, Play sold to Station for $50,000 an equipment with a carrying amount of $30,000. Station is depreciating the acquired equipment over a 5-year life using the straight-line method.

i. Describe the adjustments and provide the amounts made in 2015 and 2016 consolidated Income Statement (e.g., I.I.P. deferred in 2015 = $10,000).