Business, 05.06.2020 03:00 milkshakegrande101

Stark Company, a 90% owned subsidiary of Parker, Inc., sold land to Parker on May 1, 2017, for $80,000. The land originally cost Stark $85,000. Stark reported net income of $200,000, $180,000, and $220,000 for 2017, 2018, and 2019, respectively. Parker sold the land purchased from Stark in 2017 for $92,000 in 2019. Both companies use the equity method of accounting. What is gain or loss to the consolidated entity in 2019

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Stark Company, a 90% owned subsidiary of Parker, Inc., sold land to Parker on May 1, 2017, for $80,0...

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