Please provide the answers below, completing the journal entries.

Baywatch Industries has owned 80 percent of Tubberware Corporation for many years. On January 1, 20X6, Baywatch paid Tubberware $264,000 to acquire equipment that Tubberware had purchased on January 1, 20X3, for $285,000. The equipment is expected to have no scrap value and is depreciated over a 15-year useful life.

Baywatch reported operating earnings of $110,000 for 20X8 and paid dividends of $45,000. Tubberware reported net income of $44,000 and paid dividends of $23,000 in 20X8. (Leave no cell blank, enter "0" wherever required.)

Required:

A.

Compute the amount reported as consolidated net income for 20X8. ________

B. .	Prepare the consolidation entry or entries required to eliminate the effects of the intercompany sale of equipment in preparing a full set of consolidated financial statements at December 31, 20X8.

Event	Accounts	Debit	Credit
1	Investment in Tubberware
NCI in NA of Tubberware
Equipment
Accumulated depreciation
2	Accumulated depreciation
Depreciation expense