Hello, please help me answer the following question:

Point Corporation acquired 60 percent of Stick Company's stock on January 1, 20X3, for $24,000 in excess of book value. On that date, the book values and fair values of Stick's assets and liabilities were equal and the fair value of the noncontrolling interest was $16,000 in excess of book value. The full amount of the differential at acquisition was assigned to goodwill of $40,000. At December 31, 20X6, Point management reviewed the amount assigned to goodwill and concluded it had been impaired. They concluded the correct carrying value at that date should be $30,000 and the impairment loss should be assigned proportionately between the controlling and noncontrolling interests.

Balance sheet data for January 1, 20X6, and December 31, 20X6, and income statement data for 20X6 for the two companies are as follows:

POINT CORPORATION AND STICK COMPANY
Balance Sheet Data
January 1, 20X6
Item	Point Corporation		Stick Company
Assets
Cash	$ 9,800		$ 10,000
Accounts Receivable	60,000		50,000
Inventory	100,000		80,000
Total Current Assets		$ 169,800		$ 140,000
Land		70,000		20,000
Buildings and Equipment	$ 300,000		$ 200,000
Less: Accumulated Depreciation	(140,000)	160,000	(70,000)	130,000
Investment in Stick Company		135,200
Total Assets		$ 535,000		$ 290,000
Accounts Payable		$ 30,000		$ 20,000
Bonds Payable		120,000		70,000
Common Stock	$ 100,000		$ 50,000
Retained Earnings	285,000	385,000	150,000	200,000
Total Liabilities and Stockholders Equity		$ 535,000		$ 290,000

POINT CORPORATION AND STICK COMPANY
Balance Sheet Data
December 31, 20X6
Item	Point Corporation		Stick Company
Assets
Cash	$ 26,800		$ 35,000
Accounts Receivable	80,000		40,000
Inventory	120,000		90,000
Total Current Assets		$ 226,800		$ 165,000
Land		70,000		20,000
Buildings and Equipment	$ 340,000		$ 200,000
Less: Accumulated Depreciation	(165,000)	175,000	(85,000)	115,000
Investment in Stick Company		139,600
Total Assets		$ 611,400		$ 300,000
Accounts Payable		$ 80,000		$ 15,000
Bonds Payable		120,000		70,000
Common Stock	$ 100,000		$ 50,000
Retained Earnings	311,400	411,400	165,000	215,000
Total Liabilities and Stockholders Equity		$ 611,400		$ 300,000

POINT CORPORATION AND STICK COMPANY
Income Statement Data
Year Ended December 31, 20X6
Item	Point Corporation		Stick Company
Sales		$ 400,000		$ 200,000
Income from Stick Company		16,400
		$ 416,400		$ 200,000
Cost of Goods Sold	$ 280,000		$ 120,000
Depreciation and Amortization Expense	25,000		15,000
Other Expenses	35,000	(340,000)	30,000	(165,000)
Net Income		$ 76,400		$ 35,000

On January 1, 20X6, Point held inventory purchased from Stick for $48,000. During 20X6, Point purchased an additional $90,000 of goods from Stick and held $54,000 of its purchases on December 31, 20X6. Stick sells inventory to Point Corporation at 20 percent above cost.

Stick also purchases inventory from Point. On January 1, 20X6, Stick held inventory purchased from Point for $14,000, and on December 31, 20X6, it held inventory purchased from Point for $7,000. Stick's total purchases from Point were $22,000 in 20X6. Point sells items to Stick at 40 percent above cost.

During 20X6, Point paid dividends of $50,000, and Stick paid dividends of $20,000. Assume that Point uses the fully adjusted equity method that both companies use straight-line depreciation, and that no property, plant, and equipment has been purchased since the acquisition.

Required:

1. Prepare all consolidation entries needed to complete a consolidation worksheet as of December 31, 20X6.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

a. Record the basic consolidation entry.

b. Record the amortized excess value reclassification entry.

c. Record the excess value (differential) reclassification entry.

d. Record the optional accumulated depreciation consolidation entry.

e. Record the entry to reverse last year's deferral.

f. Record the deferral of this year's unrealized profits on inventory transfers.

2. Prepare a three-part consolidation worksheet as of December 31, 20X6.

Note: 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.