parent corp owns 70 of the voting shares of sub ltd during 20×4 sub ltd sold inventory costing 640000 to parent corp for 800000 at december 31

/in /by

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.