On January $1,2021,$ Sledge had common stock of $$220,000$ and retained earnings of $$360,000.$ During that year, Sledge reported sales of $$230,000,$ cost of goods sold of $$120,000,$ and operating expenses of $$50,000.$

On January $1,2019,$ Percy, Inc., acquired $70$ percent of Sledge's outstanding voting stock. At that date, $$70,000$ of the acquisition$-$date fair value was assigned to unrecorded contracts $($with a $20-$year life$)$ and $$30,000$ to an undervalued building $($with a $10-$year remaining life$).$

In $2020,$ Sledge sold inventory costing $$12,500$ to Percy for $$25,000.$ Of this merchandise, Percy continued to hold $$4,000$ at year$-$end. During $2021,$ Sledge transferred inventory costing $$15,000$ to Percy for $$30,000.$ Percy still held half of these items at year$-$end.

On January $1,2020,$ Percy sold equipment to Sledge for $$17,000.$ This asset originally cost $$26,000$ but had a January $1,2020,$ book value of $$11,000.$ At the time of transfer, the equipment's remaining life was estimated to be five years.

Percy has properly applied the equity method to the investment in Sledge.

Prepare worksheet entries to consolidate these two companies as of December $31,2021.$

Compute the net income attributable to the noncontrolling interest for $2021.$