Question $7.$ Upstream Sales

P Company owns $90\%$ of the common stock of S Company. S Company sells merchandise to P Company at $20\%$ above cost. During $2019$ and $20250,$ such sales amounted to $$218,000$ and $$266,000,$ respectively. At the end of each year, P Company had in its inventory one$-$fourth of the goods purchased from S Company during that year. P Company reported $$150,000$ in net income from its independent operations in $2019$ and $2020.$ S Company reported net income of $$65,000$ in each year and did not declare any dividends in any year. There were no intercompany sales prior to $2019.$

Required:

A$.$ Prepare in general journal form all entries necessary on the consolidated financial statements workpaper to eliminate the effects of the intercompany sales for each of the years $2019$ and $2020.$

B$.$ Calculate the amount of noncontrolling interest to be deducted from consolidated income in the consolidated income statement for $2020.$

C$.$ Calculate controlling interest in consolidated income for ${2020}_{?}$