On January $1,2023,$ QulckPort Company acquired $90$ percent of the outstanding voting stock of NetSpeed, Incorporated, for Required $B$

Prepare the worksheet adjustments for the December $31,2024,$ consolidation of QuickPort and NetSpeed.

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

$\backslash$table$[[$No$,$Transaction,,,Debit,Credit$],[1,*$TA$,$Equipment,$,4,700,],[,$Investment in NetSpeed,$(,,],[,$Accumulated depreciation,$,,],[2,$S$,$Common stock $-$ NetSpeed,$(,,],[,$Retained earnings$-$NetSpeed,$,,],[,$Investment in NetSpeed,$(,,],[,$Noncontrolling interest,$(,,],[3,$A$,$Database,$,,],[,$Investment in NetSpeed,$,,],[,$Noncontrolling interest,$(,,],[4,$I,Equity in earnings of NetSpeed,$,,],[,$Investment in NetSpeed,$(,,],[5,$D$,$Investment in NetSpeed,$,,],[,$Dividends declared,$(,,],[6,$E$,$Amortization expense,$(,,],[,$Database,$,,],[,,,,,]]$

$$855,000$ in cash and stock options. At the acquisition date, NetSpeed had common stock of $$860,000$ and Retalned Earnings of

$$43,000.$ The acquisition$-$date falr value of the $10$ percent noncontrolling interest was $$95,000.$ QuickPort attributed the $$47,000$

excess of NetSpeed's falr value over book value to a database with a five$-$year remalning life.

During the next two years, NetSpeed reported the following:

On July $1,2023,$ QuickPort sold communication equipment to NetSpeed for $$33,100.$ The equipment originally cost $$37,800$ and had

accumulated depreclation of $$7,100$ and an estimated remaining life of three years at the date of the intra$-$entity transfer.

Required:

a$.$ Compute the equity method balance In QuickPort's Investment In NetSpeed, Incorporated, account as of December $31,2024.$

b$.$ Prepare the worksheet adjustments for the December $31,2024,$ consolidation of QulckPort and NetSpeed.