The December $31,20$X$8,$ balance sheets for Pint Corporation and its $70$ percent$-$owned subsidiary Saloon Company contained the following summarized amounts:

Pint acquired the shares of Saloon Company on January $1,20$X$8.$ On December $31,20$X$8,$ assume Pint sold inventory to Saloon during $208$ for $$100,000$ and Saloon sold inventory to Pint for $$300,000.$ Pint's balance sheet contains inventory items purchased from Saloon for $$95,000.$ The items cost Saloon $$55,000$ to produce. In addition, Saloon's inventory contains goods it purchased from Pint for $$25,000$ that Pint had produced for $$15,000.$ Assume Saloon reported net income of $$70,000$ and dividends of $$14,000.$

Required:

a$.$ Prepare all consolidation entries needed to complete a consolidated balance sheet worksheet as of December $31,20$X$8.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations.

A Record the basic consolidation entry.

B Record the entry to defer this year's unrealized profit on inventory transfers.