On January 1, 2021, Sledge had common stock of $300,000 and retained eamings of $440,000.0.uring that yeat, Sledge reported 5 ales of $310,000, cost of goods sold of $160.000, and operating expenses of $58.000 On January 1, 2019. Percy. Inc, acquired 90 percent of Sledge's outstanding voling 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 buifding (with a to-year remaining life). In 2020. Sledge sold inventory costing $19,800 to Percy for $33,000, Of this merchandise. Percy continued to hold $7,000 at year.end During 2021, Sledge transferred inventory costing $19,000 to Percy for $38,000. Percy still held half of these items at year-end On January 1, 2020. Percy sold equipment to Sledge for $21,000, This asset originally cest $34,000 but had a January 1,2020 , book value of $12,600. At the time of transter, the equipment's remaining life was estimated to be five years. Percy has properly applied the equity method to the investment in Sledpe a. Prepare worksheet entries to consolidate these two companies as of December 31,2021 . b. Compute the net income attributable to the noncontrolling interest for 2021 . Complete this question by entering your answers in the tabs below. Prepare worksheet entrins to consolidate these two conpsnies as of December 31, 2021. (Hf nio entry is required for a transaction/ewnnt, select "7o Joumal entry required" in the first occount field.) Consolidation Worksheet Entries On January 1, 2021, Sledge had common stock of $300,000 and retained eamings of $440,000.0.uring that yeat, Sledge reported 5 ales of $310,000, cost of goods sold of $160.000, and operating expenses of $58.000 On January 1, 2019. Percy. Inc, acquired 90 percent of Sledge's outstanding voling 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 buifding (with a to-year remaining life). In 2020. Sledge sold inventory costing $19,800 to Percy for $33,000, Of this merchandise. Percy continued to hold $7,000 at year.end During 2021, Sledge transferred inventory costing $19,000 to Percy for $38,000. Percy still held half of these items at year-end On January 1, 2020. Percy sold equipment to Sledge for $21,000, This asset originally cest $34,000 but had a January 1,2020 , book value of $12,600. At the time of transter, the equipment's remaining life was estimated to be five years. Percy has properly applied the equity method to the investment in Sledpe a. Prepare worksheet entries to consolidate these two companies as of December 31,2021 . b. Compute the net income attributable to the noncontrolling interest for 2021 . Complete this question by entering your answers in the tabs below. Prepare worksheet entrins to consolidate these two conpsnies as of December 31, 2021. (Hf nio entry is required for a transaction/ewnnt, select "7o Joumal entry required" in the first occount field.) Consolidation Worksheet Entries