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On January 1 , 2 0 2 4 , Sledge had common stock of $ 3 0 0 , 0 0 0 and retained earnings

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:
Prepare worksheet entries to consolidate these two companies as of December 31,2024.
Compute the net income attributable to the noncontrolling interest for 2024.

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