Pomeroy Corporation owns an $80\%$ interest in Sherer Company and a $90\%$ interest in Tampa

Company. On January $2,2019,$ Tampa Company sold equipment with a book value of $$600,000($Historical cost $$900,000$ and Accumulated Depreciation $$300,000)$ to Sherer Company for $$780,000.$ This equipment has a remaining useful life of three years and both companies use straight$-$line depreciation ignoring the salvage value which happened to be immaterial.

Sherer Company reported $$100,000$ and Tampa Company reported $$150,000$ in net income

$($including sales to affiliates$)$ in $2019.$

Required: Prepare the $2019$ and $2020$ consolidated statements workpaper entries to eliminate the effects of this sale of equipment.