On January 1, 2021, Sledge had common stock of $260,000 and retained earnings of $400,000. During that year, Sledge reported sales of $270,000, cost of goods sold of $140,000, and operating expenses of $54,000. On January 1, 2019, Percy, Inc., acquired 80 percent of Sledge's outstanding voting stock. At that date, $74,000 of the acquisition-date fair value was assigned to unrecorded contracts (with a 20-year life) and $34,000 to an undervalued building (with a 10-year remaining life). In 2020, Sledge sold inventory costing $15,950 to Percy for $29,000. Of this merchandise, Percy continued to hold $8,000 at year-end. During 2021, Sledge transferred inventory costing $17,000 to Percy for $34,000. Percy still held half of these items at year-end. On January 1, 2020, Percy sold equipment to Sledge for $19,000. This asset originally cost $30,000 but had a January 1, 2020, book value of $11,800. 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.

Please don't just copy the answer from other posts on Chegg - they're clearly incorrect. Thank you

Noncontrolling interest in Sledge 52,736 X 52,736 Equity in income of Sledge Investment in Sledge 3.700 3,400 6 3.700 3,400 Amortization expense Depreciation expense Contracts Buildings 34,000 34,000 7 Sales Cost of goods sold 8,380 8,380 X Cost of goods sold tory Prepare worksheet Compute the net income attributable to the Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required B Required A Compute the net income attributable to the noncontrolling interest for 2021. $ 12.824 % Not income attributable to noncontrolling interest