Preparing the consolidation entries for sale of land Assume that during 2015 a wholly owned subsidiary sells and that originally cost $360,000 to its parent for a sale price of $400,000. The parent holds the land until it sells the land to an unaffiliated company on December 31, 2019. The parent uses the equity method of pre-consolidation bookkeeping a. Prepare the required consolidation entry in 2015 Debit Credit b. Prepare the required to consolidation entry required at the end of each year 2016 through 2018. Support C. Assume that the parent resells the land outside of the consolidated group for $420,000 on December 31, 2019. Prepare the journal entry made by the parent to record the sale and the required to consolidation entry for 2019 Credit d. What will be the amount of an reported in the consolidated Income statement in 20197