The purpose of thing is to give you practice in creating and modifying worksheets in Excel. It requires you to use the attached information Requint 1. Create a consolidation worksheet, like the examples in the text, to arrive at consolidated ital figues Give the abbet an appropriate beading Include your e Include the coune nase, and that this is the Ex You should have ha Account The part company's balances The dry company's balances w. The debit side of comdation entries v. The credit side of consolidation entries vi. Cand tals. If you wish, you can have one column for the totals, parate colus for debit and credit balances 2 Insert the initial data from the example into your worksheet, in the columns for parent diary balances and You MAY NOT compute the totale by hand, and just type them in You a formala in the worksheet to compute Net income Ending retained rings Total labies and squities b. You must ea formada to enure that net income, as shown in the statement of retained earnings, equals the net income from the income statement data-do NOT band copy and retype the data You must fola to sure that the ending retained earnings in the retained earnings statement is the same balance an as your ending balance sheet. Do NOT hand copy and retype the data Using a statement, create a test at the bottom of your wodoheet that will say "balanced" or "Unbalanced", depending on whether assets in the following columna equal liabilities phe equity" the parent company column, the subsidiary company column, and the comolidated total colum Please format the data as follows Nope Com every these digits-Do not show me 300000, but 500,000. Negative users should be deacted using O i. Appropriate underlining to indicate figures before a total, and a total Follow the example in the data you are given. 3. Insert the data from the consolidation estries into the appropriate columns of your worksheet Note that you will need more than one row to contain the information related to adjustorats to the investment in subsidiary account Insert whatever rows you need b. Note that the total adjustments from the income statement will be toefl in your statement of owners' equity, and the total adjustments from your statement of equity will help you balance the retained earings figure balance sheet 4 Using formales, have the spreadsheet compute the consolidated totals, based on the data from your entries and the starting data Use appropriate formulas to ensure debits and credits are added across property 5. Save your worksheet at this point 6. Label the tab at the bottom of the worksheet as "B 7. Copy the tab t second worksheet, in the same workbook Label the tab at the bottom of this second worksheet (revised data) Make the following changes to the revised worksheet Aamume that the purchase price had been $300,000 higher, make the following changes In the Parent company column, reduce cuvent assets by $300,000 and increase Investment in Subsidiary by $300,000 In Entry A, increase the debit to goodwill by $300,000, and the credit to investment in subsidiary by $300,000. b. Assume that the intercompany payable and receivable was $150,000 higher than in the base case Ame that the subsidiary has $75,000 less in equipment, and also $75,000 les liabilities d. Make the above changes to the worksheet. Hopefully, it balances... 9. Save your worksheet. 10. Submit your worksheet via BlackBoard Note-it is good form to use the total of the adjustments from your income statement in the adjustment columns of your statement of retained earnings for the "net income" row. Similarly, the total of adjustments from your statement of retained earnings can be used in the adjustment column of your balance sheet for the retained earnings" row. This allows these rows to add