On $1/1/22$ Big Co acquired $70\%$ of the voting stock of Little Co$.$ for $$350,000.$

At that time the fair value of the NC Interest was $$150,000.$

Little's book value was $$400,000,$ with Common Stock of $$100,000$ and Retained Earnings of $$300,000.$

All of Little's assets and liabilities had fair values equal to book value except:

Land, undervalued by $$5,000$

Patents, $5$ year life, undervalued by $$20,000$

Machinery, $10$ year life, undervalued by $$40,000$

Any remaining differential is attributed to goodwill

The following intercompany transactions took place during $2022$ and $2023$:

On $\frac{7}{1}\frac{?}{23}$ Big sold land to Little for $$30,000.$ Bid had acquired the land in $2022$ for $$25,000.$

Little sold a copyright to Big on $\frac{1}{1}\frac{?}{22}.$ The patent had a $5$ year remaining life. It had a book value on $\frac{1}{1}\frac{?}{22}$ of $$20,000$ and was sold to Big for $$30,000$

Little routinely sells merchandise to Big. The following sales information applies to $2022$ and $2023.$

$2022$: Little sold goods costing $$40,000$ to Big for $53,000.$ Of this merchandise, Big resold $30\%$ in $2022$ and the remainder in $2023$

$2023$: Little sold goods costing $$50,000$ to Big for $60,000.$ Of this merchandise, Big resold $80\%$ in $2023.$

During $2023,$ Little reported earnings of $$50,000$ and paid dividends of $$5,000$

Required:

Prepare appropriate equity method entries for $2023.$

Prepare appropriate elimination$/$consolidation entries for $2023.$

PLEASE BE CAREFUL ABOUT THE DATES! BIG ACQUIRED LITTLE IN $2022.$ IT'S NOW $2023!!$