ES EXERCISE 6-1 Downstream Sales LO 2 P Company owns 80% of the outstanding stock of Company, During 2019. Company reported net income of $525.000 and declared no dividends. At the end of the year, S Company's inventory included $487,500 in unrealized profit on purchases from P Company, Intercompany sales for 2019 totaled $2,700,000 Required: Prepare in general journal form all consolidated financial statement workpaper entries necessary the end of the year to eliminate the effects of the 2019 intercompany sales