Peer Company owns 80% of the common stock of Seacrest Company. Peer Company sells merchandise to Seacrest Company at 25% above its cost. During 2024 and 2025 such sales amounted to $265,000 and $475,000, respectively. The 2024 and 2025 ending inventories of Seacrest Company included goods purchased from Peer Company for $125,000 and $170,000, respectively. Peer Company reported net income from its independent operations (including intercompany profit on inventory sales to affiliates) of $450,000 in 2024 and $480,000 in 2025. Seacrest reported net income of $225,000 in 2024 and $275,000 in 2025 and did not declare dividends in either year. There were no intercompany sales prior to 2024.

Required:
A. Prepare in general journal form all entries necessary in the consolidated financial statements workpapers to eliminate the effects of the intercompany sales for each of the years 2024 and 2025.

B. Calculate the amount of noncontrolling interest to be deducted from consolidated income in the consolidated income statements for 2024 and 2025.

C. Calculate controlling interest in consolidated income for 2025.