W Learning Objectives.- 1. Judge the essentials of worksheet design 2. Organize data efciently and effectively to accomplish worksheet objectives Requirements and suggestions: Using the basic trial balances and consolidation facts from Problem 4-3 design a worksheet with th following elements 1. Key variable identication 2. Automatic updating of consolidated statements 3. Design should consider how it will be used, by whom, printing needs, linked information, futt expansion, updates to information, etc. The completed worksheet should fully document the methodology and design for future use Feedback from another class member Ability to convert between all three methods of accounting for the investment (this requirement demonstrates excellence in design and will be graded at a total possible percentage of 5%) 7. Post to your Portfolio as required for your degree. (See your advisor for further information about your Portfolio.) 9'5"?" Assessment 1. Does the worksheet function as intended? (35%) 2. Is the worksheet simple to understand? (25%) 3. If the worksheet is properly documented for future usage and updates (25%) 4. Visual appeal (10%) 5. Ability to convert between investment accounting method options of the parent (5%) Problem 4-3 (LO 2) 70%. equity, beginning and ending inventory, subsidiary seller. Refer to the preceding facts for Packard's acquisition of Stude common stock. On Jan uary 1, 2016, Packard heid merchandise acquired from Stude for $10,000. This beginning inventory had an applicable gross prot of 25%. During 2016, Stude sold $40,000 worth of merchandise to Packard. Packard held $6,000 of this merchandise at December 31, 2016. This ending inventory had an applicable gross prot of 30%. Packard owed Stude $11,000 on December 31 as a result ofthese intercompany saies. 1. Prepare a value analysis and a determination and disrribution of excess schedule for the investment in Stude. 2. Complete a consolidated worksheet For Packard Corporation and its subsidiary Stude Corporation as of December 31, 2016. Prepare supporting amortization and income distribution schedules