Can you all show me the step by step work to help me calculate parts A, B, C, D, E, F, and G that make up the Guidelines and Rubric for this excel workbook assignment, please?

This way, I can understand what must be done to get the correct dollar amounts for/of goodwill, balance of investment Posey has in the Stargell Stock account as of January 1, 20X&, the income that should be assigned to the noncontrolling interest in the 20X7 consolidated income statement, the total noncontrolling interest as of December 31, 20X6, the gain or loss on the constructive retirement of Stargell's bonds that should appear in the 20X7 consolidated income statement, consolidated entries that would appear in a three-part consolidation worksheet as of December 31, 20X7, and the dollar amounts that make up the three part worksheet for the preparation of consolidated financial statements for 20X7.

Overview: For this assignment, you will compute entries for goodwill, investment, income that should be assigned to the noncontrolling interest, total noncontrolling interest required for consolidation, gain or loss on the constructive retirement of bonds, and completion of the consolidation worksheet. You will then present all consolidation entries that would appear in a three-part consolidation worksheet, as well as prepare and complete a three-part worksheet for the preparation of consolidated financial statements. Prompt: Review the Project One Scenario document. Then address the critical elements listed below by filling out this Excel worksheet. Most of the critical elements align with a particular course outcome (shown in brackets). 1. Excel Workbook: In this section you will prepare computations, consolidation entries, and a consolidation worksheet for the preparation of consolidated financial statements for 20x7. Do not round your intermediate calculations. Round your final answer to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. In regard to the three-part worksheet for the preparation of consolidated financial statements, values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. A. Calculate the amount of the goodwill as of January 1, 20x7. [ACC-405-01] B. Calculate the balance of investment Posey has in the Stargell Stock account as of January 1, 20x7. [ACC-405-01] C. Calculate the income that should be assigned to the noncontrolling interest in the 20x7 consolidated income statement. [ACC-405-01] D. Calculate the total noncontrolling interest as of December 31, 20X6. [ACC-405-01] E. Calculate the gain or loss on the constructive retirement of Stargell's bonds that should appear in the 20x7 consolidated income statement. [ACC-405-01] F. Present all consolidation entries that would appear in a three-part consolidation worksheet as of December 31, 20x7. [ACC-405-02] G. Prepare and complete a three-part worksheet for the preparation of consolidated financial statements for 20x7. [ACC-405-02] Rubric Guidelines for Submission: Your assignment must be submitted using the provided Excel worksheet. Be sure to make revisions to your final project based on the feedback you receive from your instructor on this milestone. Posey Company Overview You are a financial accountant for Posey Company tasked with preparing consolidation documentation at year end. You have the following information: December 31, 20X5 Posey Company acquired 90% of Stargell Corporation's outstanding common stock for $1,116,900. On that date: The fair value of the noncontrolling interest was $124,100; Stargell reported common stock outstanding of $487,000, premium on common stock of $267,000, and retained earnings of $407,000; the book values and fair values of Stargell's assets and liabilities were equal except for land, which was worth $30,000 more than its book value. On April 1, 20X6 Posey issued at par $200,000 of 10% bonds directly to Stargell; interest on the bonds is payable March 31 and September 30. On January 2, 20X7 Posey purchased all of Stargell's outstanding 10-year, 12% bonds from an unrelated institutional investor at 98. The bonds originally had been issued on January 2, 20x1, for 101. Interest on the bonds is payable December 31 and June 30. Since the date it was acquired by Posey Stargell has sold inventory to Posey on a regular basis. The amount of such intercompany sales totaled $67,000 in 20x6 and $83,000 in 20x7, including a 30% gross profit. All inventory transferred in 20x6 had been resold by December 31, 20X6, except inventory for which Posey had paid $18,000 and did not resell until January 20x7. All inventory transferred in 20x7 had been resold at December 31, 20X7, except merchandise for which Posey had paid $16,667. As of December 31, 20X7 Stargell had declared but not yet paid its fourth-quarter dividend of $12,750. Both Posey and Stargell use straight-line depreciation and amortization, including the amortization of bond discount and premium. On December 31, 20X7, Posey's management reviewed the amount attributed to goodwill as a result of its purchase of Stargell common stock and concluded that an impairment loss in the amount of $25,000 had occurred during 20x7 and should be shared proportionately between the controlling and noncontrolling interests. Posey uses the fully adjusted equity method to account for its investment in Stargell. . . On December 31, 20x7, trial balances for Posey and Stargell appeared as follows: $ S Posey Company Debit Credit 49,500 121,500 317,000 1,243,800 985,000 Stargell Corporation Debit Credit 39,000 90,100 364,900 Item Cash Current Receivables Inventory Investment in Stargell Stock Investment in Stargell Bonds Investment in Posey Bonds Land Buildings and Equipment Cost of Goods Sold Depreciation & Amortization Other Expenses Dividends Declared Accumulated Depreciation Current Payables Bonds Payable Premium on Bonds Payable Common Stock Premium on Common Stock Retained Earnings, January 1 Sales Other Income Income from Stargell Corp. 1,241,000 2,940,000 1,829,000 184,000 632,000 61,000 200,000 518,000 1,915,000 426,000 65,000 206,000 51,000 $ $ 1,050,000 699,190 200,000 910,000 610,000 2,848,950 3,010,000 143,000 132,660 597,000 213,000 1,000,000 3,000 487,000 267,000 457,000 801,000 50,000 Total $ 9,603,800 S 9,603,800 $ 3,875,000 $ 3,875,000 1 On December 31, 20X7, trial balances for Posey and Stargell appeared as follows: HOME w N 4 5 Posey Manufacturing Debit Credit 49,500 Stargell Corporation Debit 39,000 $ $ 6 7 121,500 317,000 1,243,800 90,100 364.900 8 985,000 9 Item Cash Current Receivables Inventory Investment in Stargell Stock Investment in Stargell Bonds Investment in Posey Bonds Land Buildings & Equipment Cost of Goods Sold Depreciation & Amortization Other Expenses Dividends Declared 200,000 10 11 518,000 12 13 1,915,000 426,000 1,241,000 2,940,000 1,829,000 184,000 632,000 61,000 65,000 14 15 16 17 206,000 51,000 $ 18 19 20 $ 1,050,000 699,190 200,000 597,000 213,000 1,000,000 3,000 21 22 Accumulated Depreciation Current Payables Bonds Payable Premium on Bonds Payable Common Stock Premium on Common Stock Retained Earnings, January 1 Sales Other Income Income from Stargell Corp Total 910,000 610,000 487,000 267,000 23 24 25 26 2,848,950 3,010,000 143,000 132,660 457,000 801,000 50,000 27 28 $ 9,603,800 $ 9,603,800 $ 3,875,000 $ 3,875,000 1 2 3 Required: 4 a. Compute the amount of the goodwill as of January 1, 20x7. 5 6 Goodwill at acquisition 7 8 Goodwill as of January 1, 20x7: 9 10 11 12 13 14 15 Goodwill at acquisition 16 b. Compute the balance of Posey's Investment in Stargell Stock account as of January 1, 20x7. (Do 17 not round your intermediate calculations. Round your final answer to nearest whole dollar.) 19 Balance in investment 20 21 Stargell stockholders' equity, January 1, 20X7: 22 23 24 25 26 27 28 29 30 31 32 Balance in Investment in Stargell Stock account January 1, 20X7 33 34 e. Compute the gain or loss on the constructive retirement of Stargell's bonds that should appear 35 36 Gain 37 Gain on constructive retirement of 38 Stargell's bonds: 39 40 41 42 43 Gain on constructive retirement of 44 Stargell's bonds 45 46 47 48 c. Compute the income that should be assigned to the noncontrolling interest in the 20x7 consolidated income statement. (Do not round your intermediate calculations. Round your final 49 answer to nearest whole dollar.) 50 51 Income to noncontrolling interest 52 53 Stargell's 20X7 net income * 54 55 56 57 58 59 60 61 Income to noncontrolling interest * 62 63 Net income calculations 64 WN8 & 9 8 8 8 8 8 72 Net income d. Compute the total noncontrolling interest as of December 31, 20X6. (Do not round 74 your intermediate calculations. Round your final answer to nearest whole dollar.) 75 76 Total noncontrolling interest 77 78 Total noncontrolling interest, December 31, 20x6: Stargell's stockholders' equity, 79 December 31, 20X6 80 81 82 8 83 84 85 Total noncontrolling interest, 86 December 31, 20X6 87 Milestone One instructions 1 2 3 4 Record the basic consolidation entry. Accounts Debit Credit 5 6 B 7 Record the amortized excess value differential entry. 8 9 Record the excess value (differential) reclassification entry. 10 11 12 D 13 Record the reversal of last year's deferral. 14 B 15 E Record the deferral of the 20x7 unrealized profits on the inventory transfer. 16 17 18 19 20 Record the elimination of the intercompany holdings of Posey's bonds. 21 21 22 G 23 Record the entry to eliminate the intercompany interest receivables/payables D 24 25 H 26 Record the entry to eliminate the accrued interest on the intercompany bonds. 27 E 28 I 29 Record the entry to eliminate the intercompany holdings of Stargell's bonds. 30 31 ] F 32 Record the entry to eliminate the intercompany dividend payable/receivable. 33 34 G 35 36 37 38 39 40 41 42 43 44 45 46 47 J 48 A B D E F G 1 2 3 4 POSEY MANUFACTURING COMPANY AND SUBSIDIARY Consolidated Financial Statement Worksheet December 31, 20X7 5 6 Consolidation Entries DR CR 7 Posey Co. Stargell Corp. Consolidated 00 9 10 11 12 13 14 15 16 Income Statement Sales Other Income Less: COGS Less: Depr. & Amort. Expense Less: Other Expenses Goodwill Impairment Loss Gain on Bond Retirement Income from Stargell Corp. Consolidated Net Income NCI in Net Income Controlling Interest in NI Statement of Retained Earnings Beginning Balance Net Income 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 Less: Dividends Declared Ending Balance Balance Sheet Assets Cash Current Receivables Inventory Land Buildings & Equipment Less: Accumulated Depreciation Investment in Stargell Stock Investment in Stargell Bonds Investment in Posey Bonds Goodwill Total Assets Liabilities & Equity Current Payables Bonds Payable Premium on Bonds Payable Common Stock Premium on Common Stock 34 35 36 37 38 39 40 41 42 43 44 45 Retained Earnings NCI in NA of Stargell Corp. Total Liabilities & Equity 46