Need help completing the highlighted items. I/m not sure if everything else is correct???

On January 1, 2023, PondBlue Company purchased 80 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. Pon 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. PondBlue acquires 80 percent of Sweetwater 1,000,000. NCI acquisition date fair value is $250,000 Use a 60 percent gross profit rate on all inventory transfers Show the calculation for Net Income attributable to NCI During the next two years, SweetWater reported the following: Income Dividends Declai Inventory Transfers to PondBlue at Transfer Price 2023 $78,000 $25,000 $190,000 2024 85,000 27,000 210,000 SweetWater sells inventory to PondBlue after a markup based on a gross profit rate. At the end of 2023 and 2024, 30 percent of the current-year purchases remain in PondBlue's inventory. Required Create an Excel spreadsheet that computes the following 1. Equity method balance in PondBlue's Investment in SweetWater, Inc., account as of December 31, 2024. 2. Worksheet adjustments for the December 31, 2024, consolidation of PondBlue and SweetWater. Formulate your solution so that SweetWater's gross profit rate on sales to James is treated as a variable. 2023 2024 PondBlue's Share of SweetWater's Net Income $62,400 $68,000 PondBlue's Share of SweetWater's Dividends $20,000 $21,600 Unrealized Profit from Inventoy $34,200 $37,800 Realized profit for 2023 inventory in 2024 $27,360 $30,240 NCI's Share of SweetWater's Net Income $15,600 $17,000 NCI's Share of SweetWater's Dividends $5,000 $5,400 Net Income Attributable to NCI (Non-Controlling Interest): $22,200Annual Excess Remaining Life Amortizations Consideration transferred $1,000,000 Noncontrolling interest fair value $250,000 Subsidiary fair value at acquisition-date $1,250,000 Book value ($685,000) - Fair value in excess of book value $565,000 Excess fair value assignments to Trade $565,000 25 years Annual Amortization $22,600 Initial Investment $1,000,000 Add: Net Income $130,400 Less: Dividends ($41,600) Amortizati ($36,160) Realized Profit Adj $57,600 2024 Unrealized profit $72,000 Balance as of Dec 31, 2024 $1,182,240 Retained earnings of Young, December 31, 2021 $185,000 Less: income and dividends of $111,000 Retained earnings of Young, December 31, 2020 $74,000 Removal of intra-entity gross profit ($72,000) Recognized retained earnings of , December 31, $2,000 2024 Retained earnings at date of acquisition Increase in retained earnings during 2019-2020 Ownership percentage 80% Income accrual to be recognized Excess amortization $36, 160 Entry *C adjustment Sheet1 Sheet4 Sheet3 +Accounts Debit Credit Dividends Income $41,600 Dividends Declared 41,600 Accounts Debit Credit Investment in Sweetwater Retained earnings, 1/1/24 (PondBlue) Accounts Debit Credit Common stock - Sweetwater $500,000 Additional paid-in capital - Sweetwater Retained earnings, 1/1/24 (Sweetwater) $185,000 Investment in Sweetwater Noncontrolling interest in Sweetwater Accounts Debit Credit Accounts Debit Credit