can you please provide all calculations and formulas

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. . . Page Layout Formulas Data review VE Calibri 11 Wrap Text Merge & Center BIU General $ % -09 Conditional Formatting Number at Painter Font Alignment 8 F J G H On December 31, 20X7 trial balances for Posey and Stargell appeared as follows: $ $ Posey Manufacturing Debit Credit 49,500 121,500 317,000 1,243,800 Stargell Corporation Debit 39,000 90,100 364,900 985,000 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 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 $ 597,000 699,190 200,000 Accumulated Depreciation Current Payables Bonds Payable Premium on Bords Payable Common Stock Premium on Common Stock Retained Earnings, January 1 Sales Other Income Income from Stargell Corp Total 213,000 1,000,000 3,000 487,000 267,000 910,000 610,000 2,848,950 3,010,000 143,000 132,660 $9.803,800 457,000 801,000 50.000 $ 9603 800 $ 3,875,000 $ 3875 000 Thalalan 2017 Supporting calculation Lanson Type here to search Clipboard Font Alignment fo M7 D B C A E 5 A Record the basic consolidation entry. 6 B Record the amortized excess value differential entry. 7 9 Record the excess value (differential) reclassification entry. 10 D 12 13 Record the reversal of last year's deferral. 14 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 D H 22 G 22 Record the entry to eliminate the intercompany interest receivables/payables 24 25 26 Record the entry to eliminate the accrued interest on the intercompany bonds. 27 28 1 29 Record the entry to eliminate the intercompany holdings of Stargell's bonds. E 31 32. Record the entry to eliminate the intercompany dividend payable/receivable, PROVIDE ALL CALCULATIONS/FORMULAS a. Compute the amount of the goodwill as of January 1, 20X7 b. Compute the balance of Topp's Investment in Bussman Stock account as of January 1, 20x7. c. Compute the gain or loss on the constructive retirement of Bussman's bonds that should appear in the 20X7 consolidated income statement. d. Compute the income that should be assigned to the noncontrolling interest in the 20x7 consolidated income statement e. Compute the total noncontrolling interest as of December 31, 20X6. f. Present all elimination entries that would appear in a three-part consolidation worksheet as of December 31, 20X7 g. Prepare and complete a three-part worksheet for the preparation of consolidated financial statements for 20X7