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What numbers were used and what was done mathematically to get $600,000 and $540,000 in the third Journal entry recorded by Nordway Corporation and the

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What numbers were used and what was done mathematically to get $600,000 and $540,000 in the third Journal entry recorded by Nordway Corporation and the third journal recorded by Olman Company? Can you show me the step by step work as what was done to get these dollar amounts, please?

Sale of Inventory to Subsidiary LO-639 Planet Corporation acquired-90 percent of Saturn Company's voting shares of stock-in-20X1. During 20X4, Planet purchased-40,000-Playday doghouses for $24-each-and-sold-25,000 of them- to Saturn for $30 each. Saturn-sold-18,000 of the doghouses to retail-establishments prior to December 31, 20X4, for $45 each. Both companies use perpetual-inventory systems. Required a+Give all journal entries Planet recorded for the purchase of inventory and resale to Saturn Company in 20X4.1 b.+ Give the journal entries Saturn recorded for the purchase of inventory and resale to retail establishments in-20X4.[ C. Give the worksheet consolidation entry(ies) needed in preparing consolidated financial statements-for-20X4 to remove the effects of the intercompany sale. I Sale of Inventory to Subsidiary (SOLUTION) a0 Journal entries recorded by Nordway Corporation: g C CA (1) Inventorya ....-Cash (Accounts Payable) 960,0000 ga C 960,0000 CA (2) Cash (Accounts Receivable) Salesa 750,0000 da 750,000 ca 300 600,0000 da (3) Cost of Goods Soldo ---- Inventory o QQQQQ 600.00000 CA CA b. Journal entries recorded by Olman Company: og CA 750,0000 (1) Inventorya -Cash (Accounts Payable) 00 810,0000 (2) Cash (Accounts Receivable) Sales ga 750,000 ca ga 810,00000 CA ga 540,0000 ca 540,0000 (3) Cost of Goods Soldo ... Inventory 80 C co Consolidation entry: og cg Saleso 750,0000 OR Cost of Goods Soldo 708,000.00 Inventorya 42.00002 The basic-entry (not shown) would be adjusted-by-42,000 of deferred profit to complete the elimination process. Sales COGS Gross-Profito Gross-Profit-% Calculations Re- Ending Total =D Soldo + Inventoryo 750,0002 540,000 o 210.0003 600,000432,000: 168.0000 150,000 108,000+ 42,000 20% od

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