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Paste Corporation owns 70 percent of Stick Corporation's voting common stock. On March 12,20x2, Stick...

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Accounting

Paste Corporation owns 70 percent of Stick Corporation's voting common stock. On March 12,20x2, Stick sold land it had purchased for $140,000 to Paste for $185,000. Paste plans to build a new warehouse on the property in 203.
Required:
a. Prepare the worksheet consolidation entries to remove the effects of the intercompany sale of land in preparing the consolidated financial statements at December 31,202 and 203.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
\table[[,,,Answer,,,],[No,Event,,Acoounlia,,Debit,Cradit],[A,1,Gah on sale of land,,0,45,0000,],[,,Land,,0,,45,0000],[,III,(71),,12,Min,],[B,2,Investrient in Stick,,a,31,5000,],[,,Land,,(x),,
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