Stiller Company, an 80% owned subsidiary of Leo Company, purchased land from Leo on March 1, 2010, for $75,000. The land originally cost Leo $60,000. Stiller reported net income of $125,000 and $140,000 for 2010 and 2011, respectively. Leo uses the equity method to account for its investment. 18. On a consolidation worksheet, having used the equity method, what adjustment would be made for 2011 regarding the land transfer? Debit retained earnings for $15,000. Credit retained earnings for $15,000. Debit retained earnings for $50,000. Credit retained earnings for $50,000. Debit investment in Stiller for $15,000. 19. Compute income from Stiller on Leo's books for 2011. $140,000. $97,000. $125,000. $100,000. $112,000