Holiday Bakery owns 60 percent of Farmco Products Company's stock. On January 1, 20X9, inventory reported by Holiday included 23,000 bags of flour purchased from Farmco at $18 per bag. By December 31, 20X9, all the beginning inventory purchased from Farmco Products had been baked into products and sold to customers by Holiday. There were no transactions between Holiday and Farmco during 20X9.

Both Holiday Bakery and Farmco Products price their sales at cost plus 50 percent markup for profit. Holiday reported income from its baking operations of $313,000, and Farmco reported net income of $263,000 for 20X9.

I am having trouble with the consolidation entries to remove the effects of the unrealized profit in beginning inventory the consolidation worksheet is as of December 31, 20X9. (Do not round intermediate calculations)

Please help me solve for DR- (Account names are also correct)

DR(debit receivable)

Investment in Farmco ? 55,200 is what I got but it is incorrect

NCI in NA of Farmco ?82,800 is what I got but it is incorrect

CR(credit receivable)

Cost of goods sold $138,000 (This number is correct)