Pen Corporation owned equipment with an original cost of $84,000. On January 1, 2023, Pen sold the equipment to Sen Company (a 90%-owned subsidiary) for a price of $75,250. At the time of the intercompany sale, the equipment had been depreciated for $17,500. The equipment has a remaining useful life of 7 years and is straight-line depreciated. On January 1, 2025, Sen sold the equipment to an outside company for $61,200.

(i) Prepare the working paper eliminating entries I-1, I-2 and I-3 regarding the equipment for the year ended December 31, 2023.

(ii) Prepare the working paper eliminating entry I-1 regarding the equipment for the year ended December 31, 2024.

(iii) Prepare the working paper eliminating entry regarding the equipment for the year ended December 31, 2025.