On January $1,2023,$ QuickPort Company acquired $90$ percent of the outstanding voting stock of NetSpeed, Incorporated for $$900,000$ in cash and stock options. At the acquisition date, NetSpeed had common stock of $$900,000$ and Retained Earnings of $$60,000.$ The acquisition$-$date fair value of the $10$ percent noncontrolling interest was $$100,000.$ QuickPort attributed the $$65,000$ excess of NetSpeed's fair value over book value to a database with a five$-$year remaining life.

During the next two years, NetSpeed reported the following: $2023$ Net Income is $850002024$ Net Income is $1200002023$ Dividends is $82002024$ Dividends is $8200$

On July $1,2023,$ QuickPort sold communication equipment to NetSpeed for $$48,000.$ The equipment originally cost $$54,000$ and had accumulated depreciation of $$9,600$ and an estimated remaining life of three years at the date of the intra$-$entity transfer.

Required:

a$.$ Compute the equity method balance in QuickPort's Investment in NetSpeed, Incorporated account as of December $31,2024.$ Note: Input all amounts as positive values.

b$.$ Prepare the worksheet adjustments for the December $31,2024$ consolidation of QuickPort and NetSpeed. a$.$ Compute the equity method balance in QuickPort's Investment in NetSpeed, Incorporated account as of December $31,2024.$

Note: Input all amounts as positive values. $5$ b$.$ Prepare the worksheet adjustments for the December $31,2024$ consolidation of QuickPort and NetSpeed.