For this assignment, read the case facts below and then create an Excel spreadsheet using the guidance at the end of the case.

On January $1,2023,$ PondBlue Company purchased $100$ percent of the outstanding voting stock of SweetWater, Inc., for $$1,000,000$ in cash and other consideration. At the purchase date, SweetWater had common stock of $$500,000$ and retained earnings of $$185,000.$ PondBlue attributed the excess of acquisition$-$date fair value over Stillwater's book value to a trade name with an estimated $25-$year remaining useful life. Pondblue uses the equity method to account for its investment in SweetWater.

During the next two years, SweetWater reported the following:

Income Dividends Declared Inventory Transfers to PondBlue at Transfer Price

$2023$ $$78,000$ $$25,000$ $$190,000$

$202485,00027,000210,000$

Create an Excel spreadsheet that computes the following:

Equity method balance in PondBlue's Investment in SweetWater, Inc., account as of December $31,2024.$

Worksheet adjustments for the December $31,2024,$ consolidation of PondBlue and SweetWater.