I have already prepared the value analysis schedule (last picture). I need help on number 3, with the merchandise held and sold problems. (As well as 4 and 5)

Advanced Financial Accounting Assignment for Chapter 4 Summer 2017 Due no later than 11:59 pm, CDT, Sunday, June 18. You may work in groups, or individually. If you work in groups, include the names of all group members on your submission. In addition, all group members should submit individualsolutions. Upload your solution as an EXCEL file to your dropbox. On January 1, 20x3, P acquired 80% of s for s400,000. On the date of acquisition, s had the following balance sheet: S Company Balance Sheet January 1,20X3 Liabilities and Stockholders' Equity $100,000 S40,000 Accounts Payable $200,000 50,000 Bonds Payable Accounts Receivable 20,000 20,000 Common Stock $1 par 80,000 150,000 Paid in Capital 150,000 Retained Earnings Buildings (100,000) Acc, Dep n-Bldg (50,000) Acc. Dep n-Equip 40.000 $450,000 Total Total On the date of acquisition, the fair market values of the following net assets differed from their book values: Fair Market Value Additional Information Item inventory $30,000 Sold at the end of X3 200,000 20-year remaining life Buildings 80,000 10-year remaining life Equipment Bonds Payable 8-year remaining life Any remaining excess is attributable to goodwill. On January 1, 20x7, S held merchandise sold to it from P for S50,000. The beginning inventory had an applicable gross profit of 20%. During 20X7 P sold merchandise to S for $100,000. On December 31, 20x7, Sheld S20,000 of the merchandise in its inventory. The ending inventory had an applicable gross profit of20%. S wrote down to S18,000 the merchandise purchased from P and remaining in its 20X7 ending inventory