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Power Products Corporation, which sells a broad line of home detergent producte, owne 7 5 percent of the stock of Scrub Soap Company. During 2

Power Products Corporation, which sells a broad line of home detergent producte, owne 75 percent of the stock of Scrub Soap Company. During 20X8, Scrub sold soap products to Power Products for $180,000, which it had produced for $120,000. Power Products sold $150,000 of its purchase from Scrub in 208 and the remainder in 20X9. In addition. Power Producte purchased $240,000 of Inventory from Scrub in 209 and resold $90,000 of the liems before year-end. Scrub's cost to produce the luems sold to Power Products in 209 was $160,000.
Required:
a. Prepare the workcheet consolidation entries needed for December 31,209, to remove the effects of the intercompany inventory transfers in 208 and 209.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first accourt field.
Compute the amount of income ossigned to noncontroing shsieno de is in the 208 snd 209 consolidsted income stotements if Scrub reported net income of $350,000 for 208 and $420,000 for 209.
\table[[Incoma asagned to roncontroling inters,208,201
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