Wavemasters Inc., owns an 80% interest in Sayner Development Company. In a prior period, Sayner Development purchased a parcel of land for $50,000. During 2015, it constructed a building on the land at a cost of $500,000. The land and building were sold to Wavemasters at the very end of 2015 for $750,000, of which $100,000 was for the land. It is estimated that the building has a 20-year life with no salvage value.

1. Prepare all worksheet eliminations that would be made on the 2015 consolidated worksheet as a result of the real estate sale.
2. Prepare all worksheet eliminations that would be made on the 2017 consolidated worksheet as a result of the 2015 real estate sale.