Pipe Manufacturing Company acquired 90 percent of Spike Corporations outstanding common stock on December 31, 2017, for $2,595,240. At the date of acquisition, the fair value of the noncontrolling interest was $288,360 and Spike reported common stock outstanding of $1,161,000, premium on common stock of $384,912, and retained earnings of $777,600. The book values and fair values of Spikes assets and liabilities were equal, except for land, which was worth $255,312 more than its book value.

Since the date it was acquired by Pipe Manufacturing, Spike has sold inventory on account to Pipe on a regular basis. The amount of such intercompany sales totaled $223,236 in 2018 and $394,632 in 2019; the gross profit was 42 percent in both years. All inventory transferred in 2018 had been sold by December 31, 2018, except inventory which Pipe paid $46,980 and did not resell until January 2019. All 2018 inventory transactions on account had been satisfied prior to the end of the year. Inventory transferred in 2019 had been resold at December 31, 2019, except merchandise for which Pipe had paid $89,640. An account balance of $50,760 remained unpaid on 2019 inventory transactions.

**I need the consolidation entries based on these 2 paragraphs so I can make the consolidated financial statements. Thank you in advance!!**