Question: On January 1 , 2 0 2 4 , a 7 0 % - owned Subsidiary company sold to its Parent company for $ 1

On January 1,2024, a 70%-owned Subsidiary company sold to its Parent company for $183,000 a parcel of land that had cost the Subsidiary $172,000. On March 2,2027, Parent company sold the land to an outside company for $200,000. How are Parents 2027 equity in net income of Subsidiary and 2027 noncontrolling interest in net income affected by the intercompany sale of land?

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