Assume the Bright Company purchased 90% of the Dull Company on January 1,2023 for $P. The total fair value of Dull Company on that date was $1,000,000. The book value of equity in Dull Company was $850,000. The excess value was investigated and Jones determined that the only misvalued asset was a trademark, that had a book value of $0.000, but was worth $140,000, and had a remaining life of 5 years. During 2023, Dull earned income of $80,000 and paid dividends of $30,000. Also, assume that Bright Company sold inventory to Dull Company at a retail price of $80,000 and a cost of $60,000. At December 31,2023,25% of that inventory was not sold or used up by the Dull Company. Cash for Bright company =36,100 Required: a. Prepare the required journal entries for the Bright Company to fully account for its investment in the Dull Company during 2023, assuming Bright Company used the full equity method to account for investments. b. Prepare the required worksheet entries for the consolidation of Bright and Dull Companies as of December 31,2023. c. Assume that the remaining inventory was sold during 2024. What consolidation entry would be required for this sale during the 2024 year-end consolidation worksheet? d. Assume instead that the inventory sales were from the Dull Company to the Bright Company, with the same amounts and information as provided above. How would that change your entries for part b ? In part c ? 5 Worksheet for Problem 3