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, Gooses 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 Gooses 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:

	Duck	Goose
Debits
Current Assets	$885	$920
Land	900	700
Buildings & Equipment	700	900
Investment in Dong	2,010	0
Operating expenses	400	100
Dividends	80	60
Total debits	$4,975	$2,680
Credits
Liabilities	$745	$380
Common Stock	1,560	1200
Retained Earnings 1/1	1,530	600
Revenue	900	500
Investment Income	240	0
Total credits	$4,975	$2,680

No idea where to start

please 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.