The individual financial statements for Abbey Company and Bellstar Company for the year ending December $31,2024,$ follow. Abbey acquired a $60$ percent interest in Bellstar on January $1,2023,$ in exchange for various considerations totaling $$510,000.$ At the acquisition date, the fair value of the noncontrolling interest was $$340,000$ and Bellstar$$s book value was $$670,000.$ Bellstar had developed internally a trademark that was not recorded on its books but had an acquisition$-$date fair value of $$180,000.$ This intangible asset is being amortized over $20$ years. Abbey uses the partial equity method to account for its investment in Bellstar.

Abbey sold Bellstar land with a book value of $$85,000$ on January $2,2023,$ for $$170,000.$ Bellstar still holds this land at the end of the current year.

Bellstar regularly transfers inventory to Abbey. In $2023,$ it shipped inventory costing $$149,500$ to Abbey at a price of $$230,000.$ During $2024,$ intra$-$entity shipments totaled $$280,000,$ although the original cost to Bellstar was only $$168,000.$ In each of these years, $20$ percent of the merchandise was not resold to outside parties until the period following the transfer. Abbey owes Bellstar $$45,000$ at the end of $2024.$

a$.$ Prepare a worksheet to consolidate the separate $2024$ financial statements for Abbey and Bellstar.

b$.$ How would the consolidation entries in requirement $($a$)$ have differed if Abbey had sold a building on January $2,2023,$ with a $$100,000$ book value $($cost of $$220,000)$ to Bellstar for $$180,000$ instead of land, as the problem reports? Assume that the building had a $10-$year remaining life at the date of transfer.$\backslash$table$[[$Items$,$Abbey Company,Bellstar Company$],[$Sales$,$$$(880,000),$$$(580,000)$