PLEASE COMPLETE THE FOLLOWING

CALCULATION OF GW

JOURNAL ENTRIES

WORKING PAPER ELIMINATION

AND THE EXCEL SHEET

identifacle net assets of Green Company on May 31, 2023, were limiled to the following: May 31,2023 the following financial information is available for consolidation: method. Working Paper for Consolidated Balance Sheet, May 31, 2003 Phoenix ans Gren Consolidated Worksheet xisy \begin{tabular}{|c|c|c|c|c|} \hline Assets & \begin{tabular}{l} Phoenix \\ Corporation \end{tabular} & Green Company & \begin{tabular}{l} Eliminations \\ Increase \\ (Decrease) \end{tabular} & \begin{tabular}{l} Consolidate \\ d Balances \end{tabular} \\ \hline Inventories & 180,000 & 120,000 & & \\ \hline Other current assets & 60,000 & 40,000 & & \\ \hline \begin{tabular}{l} Investment in Green Company \\ common stock \end{tabular} & 500,000 & & & \\ \hline Plant assets (net) & 460,000 & 140,000 & & \\ \hline Goodwill & -0 & & & \\ \hline Total assets & 1.200,000 & 300.000 & & \\ \hline \multicolumn{5}{|l|}{\begin{tabular}{l} Liabilities \& Stockholders' \\ Equity \end{tabular}} \\ \hline Current liabilities & 240,000 & 130,000 & & \\ \hline Long-term debt & 260,000 & 50,000 & & \\ \hline Common stock, \$1 par & 200,000 & 40,000 & & \\ \hline Additional paid-in capital & 200,000 & 20,000 & & \\ \hline Retained earnings & 300.000 & 60,000 & & \\ \hline \begin{tabular}{l} Total liabilities \& stockholders' \\ equity \end{tabular} & 1.200,000 & 300.000 & . & - \\ \hline \end{tabular} You need to show your calculation of GW, provide the journal entries, and provide the working paper elimination before you complete the worksheet. Phoenix Co. And Green, INC Working Paper for Con Glidated Bala pe Sheet, May 31, 2023 \begin{tabular}{|l|r|r|l|l|} \hline Accounts & \multicolumn{1}{|c|}{ Phoenix } & \multicolumn{1}{|c|}{ Green } & Elimination & Consolidated Totals \\ \hline Assets & & & & \\ \hline Inventories & 180,000 & 120,000 & & \\ \hline Other Current Assets & 60,000 & 40,000 & & \\ \hline Investment in Green & 500,000 & & & \\ \hline Plant Assets & 460,000 & 140,000 & & \\ \hline Goodwill & & & & \\ \hline Total Assets & 1,200,000 & 300,000 & & \\ \hline Labitites \& Stockhodders Equity & & & & \\ \hline Current Liabilites & 240,000 & 130,000 & & \\ \hline Long Term Debt & 260,000 & 50,000 & & \\ \hline Common Stock \$1 par & 200,000 & 40,000 & & \\ \hline Additional Paid In Capital & 200,000 & 20,000 & & \\ \hline Retained Earmings & 300,000 & 60,000 & & \\ \hline Total Liabllities and Equities & 1,200,000 & 300,000 & & \\ \hline \hline \end{tabular}