Need help with advanced accounting. Attached is an excel worksheet with the problem.

On January 1, 2017, Parent sold to Subsidiary some equipment with a cost of $50,000 and a book value of $20,00 was $40,000. Subsidiary is depreciating the equipment over a five-year life, assuming no salvage value and using method. Required: 1) Complete the book journal entries that the sub and parent made during 2017. 2) Prepare a value analysis schedule for the purchase. 3) Complete the consolidaiton journal entries that the sub and parent made during 2017. 4) Complete the consolidation worksheet. 5) Prepare consolidated financial statements for the year ended 2017. Make sure the financial statement are in good form GAAP standards. Income COGS Parent 600,000 (350,000) Sub 380,000 (180,000) ing Expenses (140,000) (100,000) uipment sale 20,000 Divd Income Net Income 24,000 154,000 100,000 Beg. R/E 421,000 300,000 Net Income 154,000 100,000 Dividend End R/E (60,000) (30,000) 515,000 370,000 urrent Assets entory, 12/31 stment in Sub 253,000 100,000 560,000 450,000 80,000 - T Investments Land lding & Equip s: Accum Dep 50,000 140,000 315,000 (208,000) 30,000 70,000 400,000 (110,000) - Debit Credit Intangibles 60,000 1,270,000 920,000 ount Payable Bond Payable um on Bonds LT Liabilities 150,000 100,000 5,000 200,000 100,000 ommon Stock PIC Earnings, End NCI 200,000 100,000 100,000 200,000 515,000 370,000 1,270,000 920,000 150,000 00 and a book value of $20,000. The sales price ng no salvage value and using the straight-line ancial statement are in good form and prepared using Credit Parent NCI Consolidated nsolidated