opening Font branch in other city at $1/1\frac{?}{2024}$ all goods are purchased from sunrise, in $31/3\frac{?}{2024}$ FontSunrise discloses that home office account balance was credit $51,000,$ sales $560,500,$ beginning inventory $75000,$ cost of goods sold $400,000,$ ending inventory $120,000$ operating expenses $180,000.$ Sunrise investment balance in $31/3\frac{?}{2024}$ was debt $90,000,$ sales $1800,000,$ cost of goods sold $900,000$ and operating expenses $450,000.$

The following information is available for you not considered in the above balances$1-$ The branch sent $5000$ $ cash for the home office in $31/3\frac{?}{2024}$

$2-$ The home office replenished the branch petty cash in $31/3\frac{?}{2024}$ by $8000$$ in transit.

$3-$ The branch purchased equipment for $20,000$ and didn't modified sunrise

$4-$ The home office shipped the goods for the branch at markup $\%25.$

$5-$ Goods in transit for branch at cost were $$30000.$

$6-$ The branch collected $38,000$ of sunrise account receivables.

$7-$Sunrise allocated $6500$ expenses to branch

Required:

$1-$Prepare the entries required to reconcile the home office and investment accounts?

$2-$Prepare table of inventory inflow

$3-$Prepare closing entries in Font and Sunrise books

$4-$ Calculate the reporting and actual income for Font branch