Ton 22 A corporation using the equity method of accounting for its investment in a 40% owned investee, which earned $20,000 and paid $5,000 in dividends ,the debit side of recording the income from subsidiary will be + red out of Select one: a. cash g question b. income c. investment d. no entry 23 Gain on the sale of land between affiliates should not appear in the consolidated income statement Select one: O. True ut of False question tion 24 When a parent acquires 100% of a subsidiary at book value the consolidated balance sheet eliminates Investment accounts and a subsidiary equity accounts et ered Select one: ed out of O True 0 False eg