Perkins Company owns 85% of Sheraton Company. Perkins Company sells merchandise to Sheraton Company at 20%above cost. During 2014 and 2015, such sales amounted to $450,000 and $486,000, respectively. At the end of each year,Sheraton Company had in its inventory one-third of the amount of goods purchased from Perkins during that year. Using the same figures, assume that the sales were upstream instead of downstream. Required: Prepare the workpaper entries necessary to eliminate the effects of the intercompany sales for 2014 and 2015.