Pike Company owns 90% of the outstanding common stock of Sanka Company. On January 1, 2011, Sanka Company sold equipment to Pike Company for $300,000. Sanka Company purchased the equipment for $450,000 on January 1, 2006 and has been depreciating it over a 10 year life by the straight-line method. The management of Pike Company estimated that the equipment had a remaining life of 5 years on January 1, 2011. In 2011, Pike Company reported $225,000 and Sanka Company reported $150,000 in net income from their independent operations. Prepare in general journal form the workpaper entries relating to the intercompany sale of equipment that are necessary in the December 31, 2011 and 2012 consolidated statements workpapers. Pike Company uses the cost method to record its investment in Sanka Company. Calculate equity in subsidiary income for 2011 and noncontrolling interest in net income for 2011