Pisa Company acquired 75 percent of Siena Company on January 1, 20X3 for $712,500. The fair value of the noncontrolling interest was equal to 25 percent of book value. On the date of acquisition, Siena had common stock outstanding of $300,000 and a balance in retained earnings of $650,000. During 20X3, Siena purchased inventory for $35,000 and sold it to Pisa for $50,000. Of this amount, Pisa reported $20,000 in ending inventory in 20X3 and later sold it in 20X4. In 20X4, Pisa sold inventory it had purchased for $40,000 to Siena for $60,000. Siena sold $45,000 of this inventory in 20X4. Income and dividend information for Siena for 20X3 and 20X4 are as follows:

Year	Net Income			Dividends
20X3	$	150,000		$	40,000
20X4	$	200,000		$	50,000

Pisa Company uses the cost method. Required: a. Present the worksheet consolidation entries necessary to prepare consolidated financial statements for 20X3. b. Present the worksheet consolidation entries necessary to prepare consolidated financial statements for 20X4.