On January 1, 2019, Musk Company acquired 100% of Twitter Companys outstanding common stock for $1,000,000. During the subsequent years, Musk sold Twitter inventory as noted in the following table. Twitter consistently resold this merchandise in the year of acquisition or in the period immediately following. Transfers for the three years after this business combination was created amounted to the following: Year Cost Transfer Price Inventory Remaining at Year-End (at transfer price) 2019 $ 30,000 $ 50,000 $ 20,000 2020 50,000 70,000 21,000 2021 60,000 80,000 28,000 In addition, Musk sold Twitter a piece of equipment on January 1, 2020 for $100,000. The equipment had an original cost of $70,000 and current net book value of $50,000. The asset had a remaining estimated life of 5-years and no salvage value. Musk employs the equity method of accounting. Instructions: a. Prepare consolidation entries to eliminate the intra-entity transactions for 2019 b. Prepare consolidation entries to eliminate the intra-entity transactions for 2020 c. Prepare consolidation entries to eliminate the intra-entity transactions for 2021