This is the entire question. Corners are not cutoff	Moffatt, Inc. owns 80% of Alger Corporation.
1)	On January 1, 2013 Alger sold Moffatt equipment with a 10-year remaining life. Selling price = $3,285,000 / Cost = $4,725,000 / Accumulated Depreciation = $1,575,000. Prepare the necessary consolidation entries for 2013 and 2014.
2)	During 2013 Moffatt sold inventory to Alger for $1,657,000. The cost to Moffatt was $995,000. 10% remained in Alger's inventory at 12/31/2013. Alger still owed Moffatt $157,000 for the inventory purchases. Prepare the necessary consolidation entries for 2013 and 2014.
3)	On January 1, 2010 Alger issued 7.5%, 20-year bonds payable with a face value of $12,000,000 at a discount of $589,089 (a market rate of 8%). The bonds pay interest every December 31. On January 1, 2013, Moffatt purchased 1/2 the bonds for $5,860,864 (a market rate of 7.75%). Prepare the necessary consolidation elimination entries for 2013 and 2014.