On January 1, 2023, Pulask1, Incorporated, acquired a 60 percent interest in the common stock of Shendan, incorporated, for $372000 Sheridan's book value on that date consisted of common stock of $100.000 and retained eaming of $220.000, Also, the acquisibion-date falr value of the 40 percent noncontrolirig interest was $248,000. The subsidiary held patents (with a 10-year remaining life) that were undervalued within the company's accounting records by $70,000 and also had unpatented technology (15year estimated remaining life) undervalued by $45,000. Any remaining excess acquisition-date fair value was assigned to an indefiniteived trade name. Since acquisition, Pulask has applied the equity method to its investrient in Sheridan account. At year-end, there are no intra-entity payables or recelvables Intra-entity inventory sales between the two companies have been made as follows: The individual financial statements for these two companies as of December 31,2024 , and the year then ended foliow. Note: Parentheses indicate a credit balance. Requlred: a. Show how Pulaski determined the $411,000 investment in Shenidan account balance Assume that Pulaski defers 100 percent of downstream intra entity profits against its share of Shendan's income b. Prepare a consolidated worksheet to determine approprate Dalances for external financial reporting as of December 31,2024 Note: Parentheses indicate a credit balance. Required: 0. Show how Pulaski determined the $411,000 investment in Shendan account balance. Assume that Pulaski defers 100 percent of downstream intra-entity profits against its share of Shendan's income. b. Prepare a consolidated worksheet to determine appropilate balances for external financial reporting as of December 31,2024. Complete this question by entering your answers in the tabs below. Show how Pulaski determined the $411,000 Investment in Sheridan account balance. Assume that Pulaski defers 100 percent of downstream intra-entity profits against its share of Sheridan's income. Note: Amounts to be deducted should be indicated with a minus sign