Question: Sub Co. (SC) and Tank Co. (TC) are related because they are both wholly owned by Parent Co. SC sold a parcel of land to TC. The land has a carrying value of $300,000. In return, TC transferred a building to SC. The building has a carrying value of $250,000. The agreed upon transfer price is $400,000. If these transactions are not considered in the ordinary course of business for either company, which of the following statements is correct, assuming ASPE is applied? Select answer from the options below Both companies will record a gain. Only Sub Co. will record a gain. Only Tank Co. will record a gain. Neither company will record a gain.