Stark Company, a $90\%$ owned subsidiary of Parker, Incorporated, sold land to Parker on May $1,2023,$ for $$80,000.$ The land originally cost Stark $$85,000.$ Stark reported net income of $$200,000,$$$180,000,$ and $$220,000$ for $2023,2024,$ and $2025,$ respectively. Parker sold the land purchased from Stark for $$92,000$ in $2025.$ Both companies use the equity method of accounting.

Which of the following will be included in a consolidation entry for $2023?$

Multiple Choice

Debit Loss on Sale of Land for $$5,000.$

Credit Loss on Sale of Land for $$5,000.$

Credit Land for $$5,000.$

Debit Retained Earnings for $$5,000.$

Credit Gain on Sale of Land for $$5,000.$