I need help with compute amt reported as consolidated net income and by what amount would consolidated net income change of the equipment sale had been a downstream sale rather than an upstream cell? And prepare the consolidated entries required to eliminate the effects of the intercompany cell of equipment and preparing a full set of consolidated financial statements

r Work Mozilla Firefox heducation.com/hm.tpx Baywatch Industries has owned 80 percent Tubberware Corporation for many years. On January 1, 20x6. Baywatch paid S240,000 to acquire equipment that Tubberware had purchased on January 1 The equipment is expected to have no scrap value and is depreciated over a 15-year useful life. Baywatch reported operating earnings of s110.000 for 20x8 and paid dividends of $35.000. Tubberware reported net income of $2,000 and paid dividends of $23,000 in 20X8. (Leave no cell blank, enter "0" wherever required. Required a. Compute the amount reported as consolidated net income for 20X8. Answer is complete but not entirely correct Consolidated net income s 90,200X b. By what amount would consolidated net income change if the equipment sale had been a downstream sale rather than an upstream sale? Answer is complete but not entirely correct Net income change 5,760X c Prepare the consolidation entry or entries required to eliminate the effects of the intercompany sale of equipment in preparing a full set of consolidated financial statements at December (lf no entry is required for a transaction/event, select "No journal entry required in the first account field.) Answer is not complete -Event Accounts Debit Credit