Find income from slim and investment in Slim. Show all work.

Plump Corporation holds 60 percent ownership of Slim Company. Each year, Slim purchases large quantities of a gnarl root used in producing health drinks. Slim purchased $150,000 of roots in 207 and sold $40,000 of these purchases to Plump for $60,000. By the end of 207, Plump had resold all but $15,000 of its purchase from Slim. Plump generated $90,000 on the sale of roots to various health stores during the year. Required: a. Prepare the journal entries recorded by Plump and Slim during 207 relating to the initial purchase, intercorporate sale, and resale of gnarl roots. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entries recorded by Slim Company: Journal entries recorded by Plump Corporation: b. Prepare the worksheet consolidation entries needed as of December 31, 20X7, to remove all effects of the intercompany transfer in preparing the 207 consolidated financial statements. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field