$On$ January $1,2023,$ Pulaski, Incorporated, acquired $a60$ percent interest $in$ the common stock $of$ Sheridan, Incorporated, for $\frac{?}{(\frac{?}{?}\text{\$}384,600\frac{?}{?}).}$ Sheridan's book value $on$ that date consisted $of$ common stock $of\frac{?}{(\frac{?}{?}\text{\$}100,000\frac{?}{?})}$ and retained earnings $of\frac{?}{(\frac{?}{?}\text{\$}227,300\frac{?}{?}).}$ Also, the acquisition$-$date fair value $of$ the $40$ percent noncontrolling interest was $\frac{?}{(\frac{?}{?}\text{\$}256,400\frac{?}{?}).}$ The subsidiary held patents $(witha10-$year remaining life$)$ that were undervalued within the company's accounting records $by\frac{?}{?}$$$78,400$ and also had unpatented technology $(15$year estimated remaining life$)$ undervalued $by\frac{?}{(\frac{?}{?}\text{\$}54,300\frac{?}{?}).}$ Any remaining excess acquisition$-$date fair value was assigned $toan$ indefinitelived trade name. Since acquisition, Pulaski has applied the equity method $to$ its Investment $in$ Sheridan account. $At$ year$-$end, there are $no$ intra$-$entity payables $or$ receivables.

Intra$-$entity inventory sales between the two companies have been made $as$ follows:

The individual financial statements for these two companies $asof$ December $31,2024,$ and the year then ended follow:

Note: Parentheses indicate a credit balance.

Required:

$a.$ Show how Pulaski determined the $$423,453$ Investment $in$ Sheridan account balance. Assume that Pulaski defers $100$ percent $of$

downstream intra$-$entity profits against its share $of$ Sheridan's income.

$b.$ Prepare a consolidated worksheet $to$ determine appropriate balances for external financial reporting $asof$ December $31,2024.$

Complete this question $by$ entering your answers $in$ the $tabs$ below.

Required $A$

Required $B$

Show how Pulaski determined the $$423,453.$

Please answer both requirements