P owns 100% of S. Both companies have significant sales to external customers. P and S Company had the following intercompany transaction during 20X2:

• S sold inventory to P for $240,000. S's had cost of $192,000 for the items sold to P.
• P had $60,000 of this inventory remaining on hand at December 31, 20X2.

There were no transactions with affiliated entities prior to 20X2.

1. What credit (reduction) should the consolidating worksheet entries make to consolidated sales revenue? Blank 1

2. Assume for this part of the question only, that Plank owns 80% of Scent instead of 100%. What credit (reduction) should the consolidating worksheet entries make to consolidated sales revenue? Blank 2