On January $1\mathrm{.}2023.$ Pulaski, Incorporated, acquired a $60$ percent interest in the common stock of Sheridan. Incorporated, for $$334,800$ Sheridan's book value on that date consisted of common stock of $$100\mathrm{.}000$ and retained earnings of $5197,900$ also. the scquition$-$date fair value of the $40$ percent noncontrallirg interest wes $5223200.$ The aubsidiary heid paterts $($with a $10$ year remaining life$)$ that were undervelued within the company's accounting records by $596\mathrm{.}200$ and aiso nad unpatented technology $(15$ year estimated remaining Ifel undervalued by $$62,400.$ Any remaining excess acquisnion$-$date tair value was assigned to an indefinite$-$lived trade name Since acquisition. Pulaski hos applied the equity method to its invemment in Sheridar Inte$-$entity imwentory soles between the two companies have been made as follows

The ind vidual financial statements for these two companies as of December $31\mathrm{.}2024.$ and the year then ended follow

Nole Paremtheses indicate a creat balence

Required:

a$.$ Show how Pulaskl delermined the $$393,654$ Investment in Shenden occount balance Assume thet Piratki defers too percent of downuteam intra$-$entity profits agains: its share of Sheridan's income

b$.$ Prepare a consolidated worksheet to determine appropriate balances for exnernal financial reponting as of Decermber $312024$

Camplete this question by entering your answers in the tabs below.

$$

Prepare a consolidated worksheet to denermine aspropriate balances for external fivancial reporting as of December $31.2034.$

$\backslash$table$[[$PULAEK$,$ INCORPORATED, AND SHERDAM, MCONPORATED$],[$Consalidation Workaheet$],[$For Your Eniling Deunmiber $31,2$eat$],[,,,,,$Cantolitation Entries,$\backslash$table$[[$Nonenentriting$],[$Intureat$]],],[$Recounts$,$Rulanb$|,$Bherhilan,,Debilf,Credit,$],[$Sales$,5,(757,000),3,(790,[000)[,$$$,151200,,2001$ mon$)],[$Coe of yoods mosy,,$497,500,,242\mathrm{.}600,,9\mathrm{.}450,,,55.5\mathrm{.}11\%],[$Cpernaling erperes,,$201\mathrm{.}705,,2\mathrm{.}600,,12\mathrm{.}730,,,.],[$Equly n saringe di Svendan,,$(31\mathrm{.}917),,$af$,,,,0,],[$Separate corpary net ncome,,$(96\mathrm{.}712),,(72,600),,,,,],[$Corsciitited rel moome,,,,,,,,,$],[$To merertraling interest,,,,,,,,,$],[$To Pulaes mocrporated,,,,,,,,,$],[$Retarest eamrop t$/24,,($IMn$\mathrm{.}200),,,,205600,,,4\mathrm{.}2\mathrm{.}100)],[$Nhet rorore,,$0./12,,(72\mathrm{.}100),,,,,$NA$.$H$],[$Divarede dectareat,,$5000,,21,100,,,12000,$R$4+0,$ming$],[$Reneret earrags $1201/24,3,[6$a$1$ D$17),$$$,[337,300),,,,,$S saniln$],[$Ceh avt memutims,$5,30\mathrm{.}510,5,1536001,,,7,,9$Im:$],[$Net noone$],[],[$Dividernh defared,,$$0900,,((72,600))/(21\mathrm{.}4\backslash$cap $0)),,,,,196\mathrm{.}7121],[$Autarest earnipg $12$J$1/24,5,(060\mathrm{.}012),,21,100,,,12,660,$E $4$AC$,3000],[$Cash and mowrabst,$5,,,(137,300),,,,,5[.012]],[$inveritory$,,,$$$,150600,,,,,4$SH$+00],[$liwutilreqs in $9/$ midum,,$202\backslash$times $00,,133,,,0\mathrm{.}450,,],[$Bualings $($ner$),,396$ bs$4,,$B$,,24,1,417\mathrm{.}729,,0],[$Equidinge $($inet$),,$Yenom,,$\backslash$xI H$\mathrm{.}300,,,,,57+300],[$Patants inel$),,261,100,,91\mathrm{.}300,,,,,150\mathrm{.}009],[,,0,,26600,,,$E$620,,],[,,,,,,,4,180,,],[$Tiade rare$],[$T$$t:$,5,1\mathrm{.}003\mathrm{.}554,\backslash$Sigma $,$li$14,100,,,,,],[$Libtifies$,,420512,,1176\mathrm{.}800)^($p$),,,,,],[$Commen atso,,$000000,,100,000),,10\mathrm{.}100,,,$Groming$],[$Norositulog riment t$/1/24],[$Norcontiong :rtereat $1201/24],[$Resarnat earry $1201/24,,(853\mathrm{.}012),,$D$27\mathrm{.}2001,,,,,\backslash$bar $((1401012)],[$Totm lubithes and eputies,$3,(1\mathrm{.}900\mathrm{.}554),5,(614,100),5,$sth$3$s$,43679,,]]$