Help 6 On January 1, 2018, Sledge had common stock of $120,000 and retained earnings of $260,000. During that year sales of $130,000, cost of goods sold of $70,000, and operating expenses of $40,000. On January 1, 2016. Percy, Inc. acquired 80 percent of Sledge's outstanding voting stock. At that date, $60,000 of the acquisition-date fair value was assigned to unrecorded contracts (with a 20-year life) and $20,000 to an undervalued building (with a 10-year remaining life). points In 2017, Sledge sold inventory costing $9.000 to Percy for $15,000. Of this merchandise, Percy continued to hold $5,000 at year-end. During 2018, Sledge transferred inventory costing $11,000 to Percy for $20,000. Percy still held half of these items at year-end On January 1, 2017, Percy sold equipment to Sledge for $12,000. This asset originally cost $16.000 but had a January 1, 2017, book value of $9,000. At the time of transfer, the equipment's remaining life was estimated to be five years. Print Percy has properly applied the equity method to the investment in Sledge Referencesa. Prepare worksheet entries to consolidate these two companies as of December 31, 2018. b. Compute the net income attributable to the noncontrolling interest for 2018 Complete this question by entering your answers in the tabs below Required A Required B Compute the net income attributable to the noncontrolling interest for 2018 income attributable to Required A K Prev6 of 6 Next