(Answered) Question petunia corporation owns 100 of stone companys

Accounting

Question: Petunia Corporation owns 100% of Stone Company's common stock. On January 1, 2017, Petunia sold equipment with a book value of $210,000 to Stone for $300,000. Stone is depreciating the equipment over a ten-year life by the straight-line method. The net adjustments to compute 2017 and 2018 consolidated income would be an increase (decrease) of

a. (90000) : 0

b. (90000) : 9000

c. (81000) : 0

d. (81000) : 9000

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