On January $1,2024,$ Sledge had common stock of $$300,000$ and retained earnings of $$440,000.$ During that year, Sledge reported sales of $$310,000,$ cost of goods sold of $$160,000,$ and operating expenses of $$58,000.$

On January $1,2022,$ Percy, Incorporated, acquired $90$ percent of Sledge's outstanding voting stock. At that date, $$78,000$ of the acquisition$-$date fair value was assigned to unrecorded contracts $($with a $20-$year life$)$ and $$38,000$ to an undervalued building $($with a $10-$year remaining life$).$

In $2023.$ Sledge sold inventory costing $$19,800$ to Percy for $$33,000.$ Of this merchandise, Percy continued to hold $$7,000$ at year$-$end. During $2024.$ Sledge transferred inventory costing $$19,000$ to Percy for $$38,000.$ Percy still held half of these items at year$-$end.

On January $1,2023,$ Percy sold equipment to Sledge for $$21,000.$ This asset originally cost $$34,000$ but had a January $1,2023,$ book value of $$12,600.$ 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.

Required:

$0.$ Prepare worksheet entries to consolidate these two companies as of December $31,2024.$

b$.$ Compute the net income attributable to the noncontrolling interest for $2024.$

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Prepare worksheet entries to consolidate these two companies as of December $31,2024.$

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

$\backslash$table$[[$No$,$Transaction,Accounts,,Debit,Credit$],[1,^(*)$G$,$Retained earnings,O$,,],[,,$Cost of goods sold,$-,,],[2,*$TA$,$Equipment,$,,],[,,$Investment in Sledge,O$,,],[,,$Accumulated depreciation$-$Equipment,$-,,],[3,$S$,$Common stock,$(,300,000,],[,,$Retained earnings,$-,,],[,,$Investment in Sledge,$-,,],[,,$Noncontrolling interest in Sledge,$(>,,],[4,$A$,$Contracts,$-,,],[,,$Buildings,$-,,],[,,$Investment in Sledge,$(,,],[,,$Noncontrolling interest in Sledge,$*,,],[,,,,,],[5,$I,Equity in income of Sledge,$,,],[,,$Investment in Sledge,$(,,],[,,,,,],[6,$E$,$Amortization expense,$0,,],[,,$Depreciation expense,$-,,],[,,$Contracts,$,,],[,,$Buildings,$>,,],[,,,,,],[7,$TI$,$Sales,$,,],[,,$Cost of goods sold,$-,,],[,,,,,],[8,$G$,$Cost of goods sold,$*,,],[,,$Inventory,$(,,],[,,,,,],[9,$ED$,$Accumulated depreciation$-$Equipment,$>,1,6800,],[,,$Depreciation expense,O$,,1,680$o$.]]$