I need help with the noncontrolling interest portion please

On January $1.2023,$ Corgan Company acquired $80$ percent of the outstanding voting stock of Smashing. Incorporated, for a total of $$1,560,000$ in cash and other consideration. At the acoulalion date, $5$ mashing had common stock of $$900,000,$ retained eamings of $5450,000,$ and a noncontrolling interent far value of $$390,000.$ Corgan attributed the excess of fair value over Smashing's booli value ho valious covenants with a $20-$year rembining life. Corgan uses the equity method to account for its invertiment in Smashing

During the next two years, Smashing reported the following:

$\backslash$table$[[,,$Dividenes,Tewentery Purchases$],[$Itees$,$Net Incose,Declared,froe Corgan$],[2623,$$ $350,600,$$ $55,6$ep$,$$ $3$e$,$ epe$],[2024,396,6$et$,65,0*0,328,208]]$

Corgan selts inventory to Smashing using a $60$ percent markup on cost$.$ te the end of $2023$ and $2024,40$ percent of the current year purchoses remain in Smashing's inventory.

Mequired:

a$.$ Compute the equity method balance in Corgan's investment in Smashing. Incorporabed. acocount as of December $31,2024.$

b$.$ Prepere the worksheet edfustments for the December $31,2024,$ consoldation of Corgan and Smashing

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Aequired a

Compule the equity method balance in Corgaris Imestment in Smashing. Ircorporked, acoouet as of December

Investment Balance $12/3$t$24$

On January $1.2023,$ Corgan Company acquired $80$ percent of the outstanding voting stock of Smashing. Incorporated, for a total of $$1,560\mathrm{.}000$ in cash and other consideration. At the acquisition date, $5$ mashing had common stock of $$900,000,$ retained earnings of $$450,000,$ and a noncontrolling interest fair value of $$390,000.$ Corgan attributed the excess of fair value over $5$ mash ing's book value to various covenants with a $20$ year remaining life. Corgan uses the equity method to account for its investment in Smashing.

During the next two years, Smashing reported the following:

$\backslash$table$[[$Items$,$Net Incone,Dividends Declared,Irventory Purchases from Corgan$],[2623,5350,6\%,$$ $55,$ eee,$ $300,099],[2024,33$e$,$ e$2$t$,65,$ eee,$320,024]]$

Corgan sells inventory to Smashing using a $60$ percent markup on cost$.$ At the end of $2023$ and $2024,40$ percent of the current year purchases remain in Smashing's inventory.

Required:

a$.$ Compute the equity method balance in Corgan's Investment in Smashing. Incorporated, account as of December $31,2024.$

b$.$ Prepare the worksheet adjustments for the December $31,2024,$ consolidation of Corgan and Smashing.

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Required A

Compute the equity method balance in Corgan's Investment in $5$ mashing, Incorporated, account as of December

Investment balance $12/31/24$

On January $1,2023,$ Corgan Company acquired $80$ percent of the outstanding voting stock of Smashing. Incorporated, for a total of $$1,560,000$ in cash and other consideration. At the acquisition date, Smashing had common stock of $$900,000,$ retained earnings of $$450,000,$ and a noncontrolling interest fair value of $$390,000.$ Corgan attributed the excess of fair value over Smashing's book value to various covenants with a $20-$year remaining life. Corgan uses the equity method to account for its investment in Smashing.

During the next two years, Smashing reported the following:

$\backslash$table$[[$Itens$,$Net Income,Dividends Declared,Inventory Purchases$],[2023,$$ $35$e$,609,$$ $55,8$ee$,],[2824,336,6$es$,65,3-$ee$,328,88$e$8]]$

Corgan sells inventory to Smashing using a $60$ percent markup on cost$.$ At the end of $2023$ and $2024,40$ percent of the current year purchases remain in Smashing's inventory.

Required:

a$.$ Compute the equity method balance in Corgan's investment in Smashing, Incorporated, account as of December $31,2024.$

b$.$ Prepare the worksheet adjustments for the December $31,2024,$ consolidation of Corgan and Simashing.

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Compute the equity method balance in Corgan's Investment in Smashing, Incorporated, account as of December

Irvedtrent belance $12/81/24$

On January $1,2023,$ Doone Corporation acquired $80$ percent of the outstanding voting stock of Rockne Company for $$784,000$ consideration. At the acquisition date, the fair value of the $20$ percent noncontrolling interest was $$196,000,$ and Rockne's assets and liabilities had a collective net fair value of $$980,000.$ Doone uses the equity method in its internal records to account for its investment in Rockne. Rockne reports net income of $$380,0$