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What is amount of gain that should be recognized on palady

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Question 1: Palady Ltd. purchased an equipment from its 100% owned subsidiary, Sunny Ltd., for $100,000 two years ago. Palady has just sold the equipment to an unrelated party for a $5,000 gain. At the time of the sale, there was still an unrealized gain of $35,000 from the purchase from Sunny. With this sale of the asset to the unrelated party, what is the amount of gain that should be recognized on Palady's consolidated financial statements?

Reference no: EM132608654

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