Prepare the appropriate consolidation entries needed at December 31,205, to prepare consolidated financial statements. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate colculations. Consolidation Worksheet Entries Record the entry to eliminate intercompany receivable/payable. Note: Enter debits before credits. Prepare the appropriate consolidation entries needed at December 31, 20X5, to prepare consolidated financial statements Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Consolidation Worksheet Entries Record the entry to eliminate the intercompany inventory sale. Note: Enter debits before credits: In preparing the consolidation worksheet for Pencil Corporation and its 60 percent-owned subsidiary, Stylus Company, the following consolidation entries were proposed by Pencil's bookkeeper To eliminate the unpaid balance for intercorporate inventory sales in 205 To eliminate unrealized inventory profits at December 31,205 To eliminate intercompany sales for 205 Pencil's bookkeeper recently graduated from Oddball Unversity, and although the dollar amounts recorded are correct, he had some confusion in determining which accounts needed adjustment. All intercorporate soles in 205 were from Stylus to Pencil, and Stylus selis inventory at cost plus 40 percent of cost. Pencil uses the fully adjusted equity method in accounting for its ownership in Stylus Required: a. What percentage of the intercompany inventory transfer was resold prior to the end of 205 ? Note: Do not round your intermediate calculations. Round your final answer to nearest whole percentage