Duck Corporation acquired $75$ percent of the outstanding voting shares of Goose, Inc. on January $1$st $2022$ which it held as a subsidiary.$$ Duck paid a total of $$1,650$ in cash for these shares.$$ This payment represents the proportionate share of the fair value of Goose. $$On January $1$st$,2022,$ Goose$$s book value was $$1,500$ and all recorded assets and liabilities had fair values equal to their book values except equipment, with a $5-$year remaining life, that was under$-$valued on the company accounting records by $$250.$ Also Goose$$s newly developed patent, with an estimated life of $10-$years, was assessed to have a fair value of $$300$ although it was not recorded on the books.$$Adjusted Trial Balances as of December $31,2023$ were as follows:$$DuckGooseDebits$$Current Assets$$885$$$920$Land$900700$Buildings & Equipment$700900$Investment in Dong$2,0100$Operating expenses$400100$Dividends$8060$ Total debits$$4,975$$$2,680$CreditsLiabilities$$745$$$380$Common Stock$1,5601200$Retained Earnings $1/11,530600$Revenue$900500$Investment Income$2400$Total credits$$4,975$$$2,680$No idea where to startplease helpSet up the income statement, statement of retained earnings and balance sheet for Duck and Goose in work paper format for later consolidation.$$ Make sure your statements BALANCE before you go any further!Prepare a chart to reconcile the change in the Investment in Goose from the date of purchase, January $1,2022,$ to December $31,2023.$ Make sure you have totals for year$-$end $2022$ and $2023$ so any manager reading the chart can easily see what is driving changes in the investment balance.$$ Use a single underline before the year$-$end totals, but I recommend highlighting that row in a different color and not using a double underline below the numbers.$$Prepare all $2023$ General Journal entries and consolidation entries in proper journal entry form, but separate according to type since the consolidation entries are NOT made in the books of either company $$ just used to facilitate the consolidation on the worksheet.