Q$1$: $P$ acquired $70\%$ of $S,$ and the following information were at acquisition:

$\backslash$table$[[$S$],[$C$.$S$,500],[$R$.$E$,300],[$APIC$,100]]$

Differences at acquisition:

Inventory undervalued by $50$ : FV$>$BV$,40\%$ sold in year $1,50\%$ sold in year $2,$ and $10\%$ in year $3.$

Equipment undervalued by $100$ : FV$>$BV$,$ remaining life $5$ years.

$S$ year $1$ net income $=150$ and dividends $=50.$

$S$ year $2$ net income $=160$ and dividends $=60$

$S$ year $3$ net income $=170$ and dividends $=70.$

Knowing that $S$ paid $80\%$ of dividends in the same year, and $20\%$ in the next year.

Required: prepare elimination entries for two years.