Stick Corporation is a wholly owned subsidiary of Point Corporation. Point acquired ownership of Stick on January $1,20$x$3$ for $$28,000$ above Stick's reported net assets. At that date, Stick reported common stoc outstanding $$60,000$ and retained earnings of $$90,000.$ The differential is assigned to equipment with an economic life span of $7$ years at the datae of the business combination. Stick reported net income of $$30,000$ and paid dividends of $$12,000$ in $20$x$3.$

A$.$ Give the journal entries recorded by Point Corporation during $20$x$3$ on its books if Point accoutns for its investment in Stick using the equity method.

B$.$ Give the consolidation entries needed at December $31,20$x$3,$ to prepare consolidated financial statements.