The Paris Company purchased an 100% interest in Seine, Inc. for $600,000 on January 1, 20 times 1, when Seine had the following balance sheet: The building has a fair value of $320,000 and a 10-year remaining life The equipment has a fair value of $120,000 and remaining life of 5 years. Any remaining excess is attributed to goodwill. From January 1 through December 31, 20X1, Seine had net income of $100,000 and paid $10,000 in dividends From January I through December 31. 20X2, Seine had net income of $50,000 and paid $5,000 in dividends. Assume that Paris uses the initial value method to record its investment in Seine. Required: Prepare all necessary elimination entries for the consolidating worksheet for December 31, 20X1. and for December 31, 20X2