Company S is 80% owned by Company P. Near the end of 20X1, Company S sold merchandise with a cost of $4,000 to Company P for $6,000. Company P sold the merchandise to a nonaffiliated firm in 20X2 for $10,000. How much total profit should be recorded on the consolidated income statements in 20X1 and 20X2? How much profit should be awarded to the controlling and noncontrolling interests in 20X1 and 20X2?

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