READ THE DIRECTIONS BELOW OR THIS WILL BE DOWNVOTED.

DO IN EXCEL FORMAT AND ANSWER ALL PARTS. I WILL DOWNVOTE IF YOU DO NOT MEET THESE EXPECTATIONS. EXCEL FORM AND ALL PARTS. THIS IS MY 5th TIME POSTING THIS QUESTION AND NO ONE HAS FOLLOWED MY DIRECTIONS. THIS SHOULD NOT BE THAT HARD.

C. Calculate controlling interest in consolidated income for 2020 . Downstream Sales LO 2 LO 5 Peer Company owas 80% of the common stock of Seacrest Company. Poer Company sells merchandise to Seacrest Company at 25% above its cost, During 2019 and 2020 such sales amounted to $265,000 and $475,000, respectively. The 2019 and 2020 ending inventories of Seacrest Company included goods purchased from Peer Company for $125,000 and $170,000, respectively. Peer Company reported net income from its indepentent operations (including intercompany profit on inventory sules to affiliates) of $450,000 in 2019 and $480,000 in 2020 . Seacrest reported net income of $225,000 in 2019 and $275,000 in 2020 and did not declare dividends in either year. There were no intercompany sules prior 102019. Required: A. Prepare in general journal form all entries necessary in the consolidated financial statements workpapers to eliminate the effects of the intercompany sales for cach of the years 2019 and 2020 . B. Calculate the amount of noncontrolling interest to be deducted from consolidated income in the consolidated income statements for 2019 and 2020. C. Calculate controlling interest in consolidated income for 2020