The Paris Company purchased an 100% interest in Seine, Inc. for $ 600.000 on January 1, 20XI, when seine had the following balance sheet: Total building has a fair value of $ 320,000 and a 10-year remaining life. The equipment has a fair value of $ 120.000 and a a remaining life of 5 years. Any remaining excess is attributed goodwill. From January 1 through December 31.20X1.Seine had net income of $ 100.000 and paid $ 10,000 in dividends. From January 1 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