In january 2014, s company, an 80% owned subsidiary of p company, sold equipment to p company for $990,000. s company's original cost for this equipment was $1,000,000 and had accumulated depreciation of $100,000. p company continued to depreciate the equipment over its 9 year remaining life using the straight-line method. this equipment was sold to a third party on january 1, 2017 for $720,000. what amount of gain should p company record on its books in 2017?
a. $30,000.
b. $60,000.
c. $120,000.
d. $180,000.

Financial performance is measured in many ways. requirements 1. explain the difference between lag and lead indicators. 2. the following is a list of financial measures. indicate whether each is a lag or lead indicator: a. income statement shows net income of $100,000 b. listing of next week's orders of $50,000 c. trend showing that average hits on the redesigned website are increasing at 5% per week d. price sheet from vendor reflecting that cost per pound of sugar for the next month is $2 e. contract signed last month with large retail store that guarantees a minimum shelf space for grandpa's overloaded chocolate cookies for the next year