Lorikeet Corp acquired a 80% interest in Nectar Corp. on January 1, 200 at a cost equal to book value and fair value. In the same year Nectar sold land costing $30,000 to Lorikeet for $50,000 on July 1, 2005. Lorikeet sold the land to an unrelated party for $110,000. What was the gain on the consolidated income statement?