Prize Company acquired 80 percent ownership of Sort Company's voting shares on January 1, 2013, at underlying book value. During 2016, Prize purchased inventory for $30,000 and sold the full amount to Sort Company for $50,000. On December 31, 2016, Sort's ending inventory included $10,000 of items purchased from Prize. Those items were then sold to unaffiliated parties in 2017. Also in 2016, Sort purchased inventory for $80,000 and sold the units to Prize for $100,000. Prize included $30,000 of its purchase from Sort in ending inventory on December 31, 2016. Those items were sold to unaffiliated parties in 2017 and there were no additional sales between the companies in 2017. In 2016, Prize reported stand-alone income of $150,000 and Sort report total net income of $33,000. Required:
Provide workpaper entries related to both intercompany sales of inventory only for 2016.