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Paragraph Corporation purchased land on January 1, 20X1, for $18,500. On June 10, 20X4, it sold the land to its subsidiary, Sentence Corporation, for $32,000. Paragraph owns 60 percent of Sentence's voting shores. Required: a. Prepore the worksheet consolidotion entries needed to remove the effects of the intercompony sole of lond in preporing the consolidated financial statements for 204 and 205. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account fieid. A Record the consolidating entry on December 31,204. 8 Record the consolidating entry on Decernber 31,205. Note: M b. Frepare the workeheet consolicetion entries needed on December 31.204 and 205, if Sentemce hed initially purchased the lend for $18,500 and then sold it to Parogreph on June 10,204, for $32,000. Note: if no entry is required for a transactionievent, select "No journal entry required" in the first account field. A Record the consolidating entry on Decerruer 31,204. 8 Record thit connsolidating entry on December 31,205