Preparing the [I] consolidation entries for sale of depreciable assets-Cost method Assume on January 1, 2019, a parent sells to its wholly owned subsidiary, for a sale price of $90,000, equipment that originally cost $108,000. The parent originally purchased the equipment on January 1, 2015, and depreciated the equipment assuming a 12-year useful life (straight-line with no salvage value). The subsidiary has adopted the parent's depreciation policy and depreciates the equipment over the remaining useful life of 8 years. The parent uses the cost method of pre-consolidation investment bookkeeping. a. Compute the pre-consolidation annual depreciation expense for the subsidiary (postintercompany sale) and the parent (pre-intercompany sale). b. Compute the pre-consolidation Gain on Sale recognized by the parent during 2019. c. Prepare the required [l] consolidation entry in 2019 (assume a full year of depreciation). d. With respect to the deferred gain on intercompany sale, what effect (i.e., amount) will it have on the [AD]] entry necessary to prepare the consolidated financial statements for the year ended December 31, 2022? In addition, specify the account that will be debited and the account that will be credited in the [ADJ] entry for the effect of the deferred gain on intercompany sale. Prepare the [AD]] consolidation entry for December 31, 2022 to show the effect of the deferred gain on the intercompany sale. e. Prepare the required [I] consolidation entry in 2022 (assuming the subsidiary is still holding the equipment)