Please answer all parts and format this into grids.

C. Calculate controlling interest in consolidated income for 2020 . Downstream Sales LO 2 LO 5 Peer Company owas 80% of the common stock of Seacrest Company. Poer Company sells merchandise to Seacrest Company at 25% above its cost, During 2019 and 2020 such sales amounted to $265,000 and $475,000, respectively. The 2019 and 2020 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 indepentent operations (including intercompany profit on inventory sules to affiliates) of $450,000 in 2019 and $480,000 in 2020 . Seacrest reported net income of $225,000 in 2019 and $275,000 in 2020 and did not declare dividends in either year. There were no intercompany sules prior 102019. 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 cach of the years 2019 and 2020 . B. Calculate the amount of noncontrolling interest to be deducted from consolidated income in the consolidated income statements for 2019 and 2020. C. Calculate controlling interest in consolidated income for 2020