What was done mathematically to get the $432,000 and the 168,000 on Part C.? Can you show me the step by step work to get both $432,000 and $168,000, please? This way, I know what to do to get these $432,000 and $168,000 myself. Can you type and/or write your explanations and step by step work in a way that I can read them, please?

What was done mathematically to get the $432,000 and the 168,000 on Part C.? Can you show me the step by step work to get both $432,000 and $168,000, please? This way, I know what to do to get these $432,000 and $168,000 myself. Can you type and/or write your explanations and step by step work in a way that I can read them, please?

Week Three Practice Problem 4-andSolution 1 Sale-of-Inventory to Subsidiary-L0-6-39 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 6. Give the journal-entries-Saturn recorded for the purchase of inventory and resale to retail establishments-in-20X4.1 C.+ Give the worksheet-consolidation-entry(ies) needed-in preparing consolidated financial- statements-for-20X4 to remove the effects of the intercompany -sale. a.+ Give all journal-entries-Planet recorded for the purchase of inventory and resale to Saturn Company-in-20X4.1 1 ao Journal-entries recorded by Nordwax Corporation: 1 =-40,000 Shares-x-$24.00 market price 1 =-960,0000 CI 960.0000 C 960,0000) (1) Inventory ---Cash (Accounts Payable) 1 =-25,000-shares-x $30.00 market price 1 = $750,0001 1 750,0000 ga 0 750,000de. (2) Cash (Accounts Receivable) -Sales 1 =-25,000-shares-x-$24.00 market price 1 = $600,000 1 (3) Cost of Goods Soldo ---Inventory 600.0000 600,000 1 b. Give the journal-entries Saturn recorded for the purchase of inventory and resale to retail establishments in-20X4.1 1 bo Journal entries recorded by Olman Company: 1 =-25,000-shares-x-$30.00 market price 1 = $750,0009 750,0000 (1) Inventoryo - Cash (Accounts Payable) da 750,0000 =-18.000-shares-x-$45.00 market price = $810,0001 1 (2) Cash (Accounts Receivable) ...Saleso 810,0000 810,0000 1 =-18.000-shares-x-$30.00 market price = $540,0001 C (3) Cost of Goods Soldo ---Inventory 540,0000 540,000: Sale-of-Inventory to Subsidiary (SOLUTIONS a. Journal entries recorded by Nordway Corporation: ca ga (1) Inventory ....Cash (Accounts Payable) 960,0000 C 960,0000 oooo CA (2) Cash (Accounts Receivable) Sales 750,0000 ga 750,000 CA 300 600,0000 da (3) Cost of Goods Soldo - Inventorya 600,000da CA RRRRRRRRRRRRRRRRRRRR QQQQQ bo Journal entries recorded by Olman Company: CA da (1) Inventoryo ---Cash (Accounts Payable) 750,0000 C 750,000 OOOOOOO000 CA 810,0000 da (2) Cash (Accounts Receivable) Sales Q 810,000+ C 540.0000 (3) Cost of Goods Soldo ---- Inventory GA 540,0000 og C co Consolidation entry: cg QQ og 3 g g d OR Sales 750,000 ----Cost-of Goods Soldo 708,0000 ----Inventorya 42,000CR The basic entry (not shown) would be adjusted-by-42,000 of deferred profit to complete the elimination process. 1 . 1 Saleso COGS Gross-Profito Gross-Profit-% Calculationso Re- Ending Total=0 Soldo + Inventory 750,000+ 540,000 o 210,000-4 600,000+ 0 432,000168,000 x 150,000 O 108.000 42,000 20% od