Parent Corporation owns 90 percent of Subsidiary Company's stock. During 2018, Parent sold inventory purchased $48,000 to Subsidiary for $60,000. Subsidiary then sold half of the inventory to a nonaffiliate by the end of the year. On 2018, Parent sold $15,000 inventory which was purchased from Subsidiary in 2017. The cost of inventory for Subsidiary was $10,000. Prepare Parents adjusting journal entries and the consolidation entries that related to intercompany sale of inventory for 2018. (Remember to include all necessary reversal journal entries to Parents accounts in the consolidation entries)