On January 1, 2017, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., for $873,000 in cash and stock options. At the acquisition date, NetSpeed had common stock of $880,000 and Retained Earnings of $44,000. The acquisition-date fair value of the 10 percent noncontrolling interest was $97,000. QuickPort attributed the $46,000 excess of NetSpeed's fair value over book value to a database with a five-year remaining life. During the next two years, NetSpeed reported the following: Dividends Declared Net Income 61,400 88,200 6,200 6,200 2017 2018 On July 1, 2017, QuickPort sold communication equipment to Net Speed for $32,600. The equipment originally cost $37,200 and had accumulated depreciation of $7,000 and an estimated remaining life of three years at the date of the intra-entity transfer. a. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2018 b. Prepare the worksheet adjustments for the December 31, 2018, consolidation of QuickPort and NetSpeed. Complete this question by entering your answers in the tabs below Required A Required B Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2018. Investment in NetSpeed, Inc., 12/31/18 On January 1, 2017, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., for $873,000 in cash and stock options. At the acquisition date, NetSpeed had common stock of $880,000 and Retained Earnings of $44,000. The acquisition-date fair value of the 10 percent noncontrolling interest was $97,000. QuickPort attributed the $46,000 excess of NetSpeed's fair value over book value to a database with a five-year remaining life. During the next two years, NetSpeed reported the following: Dividends Declared Net Income 61,400 88,200 6,200 6,200 2017 2018 On July 1, 2017, QuickPort sold communication equipment to Net Speed for $32,600. The equipment originally cost $37,200 and had accumulated depreciation of $7,000 and an estimated remaining life of three years at the date of the intra-entity transfer. a. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2018 b. Prepare the worksheet adjustments for the December 31, 2018, consolidation of QuickPort and NetSpeed. Complete this question by entering your answers in the tabs below Required A Required B Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2018. Investment in NetSpeed, Inc., 12/31/18