Parent Corp. owns 70% of the voting shares of Sub Ltd. During 20X4, Sub Ltd. sold inventory costing $ 640,000 to Parent Corp. for $ 800,000. At December 31, 20X4, Parent Corp. still had $ 300,000 of these goods in its inventory, and had not yet paid for $ 480,000 of the goods. All of the remaining goods were sold in 20X5.
Sub Ltd. also sold a piece of land ( cost of $ 188,000) to Parent Corp. on July 1, 20X4, for $ 260,000, for which Parent Corp. had issued Sub Ltd. a five- year, 10% per annum note. The interest will be paid on July 1, 20X5.

Required
1. Prepare the consolidation related eliminations required in 20X4 and 20X5 respectively.
2. Assuming that Sub Ltd. earned $ 680,000 during 20X4 and $ 880,000 during 20X5, calculate the non- controlling interest in the earnings of Sub Ltd.