Tribbs sold one of its products to Quicker for resale to itscustomers. The detai

Tribbs sold one of its products to Quicker for resale to itscustomers. The details include the following:Tribbs sale price was $200000.Tribbs cost to make the product was $180000.Quicker has sold 50% of the product to its customers during theyear with the remaining $100000 still in inventory.Quicker sold the product for $130000.Quicker made $110000 in profits for the year.Submit a report outlining your findings for your next combinedmeeting. Include the following:To record the transaction:Tribbs entryQuickers entryConsolidated worksheet entry at 12/31/05intercompany sales entryintercompany profits entry