Please answer in excel. Thank you so much!

Upstream and Downstream Workpaper-Partial Equity Method Lo 6 On January 1, 2023, Perry Company purchased 80% of Selby Company for $960,000. At that time Selby had capital stock outstanding of $400,000 and retained earnings of $400,000. The fair value of Selby Company's assets and liabilities is equal to their book value except for the following: Orc-uau or the inventory was sold in 2023; the remainder was sold in 2024. At the end of 2023 , Perry Company had in its ending inventory $54,000 of merchandise it had purchased from Selby Company during the year. Selby Company sold the merchandise at 20% above cost. During 2024, Perry Company sold merchandise to Selby Company for $300,000 at a markup of 20% of the selling price. At December 31,2024 , Selby still had merchandise that it purchased from Perry Company for $78,000 in its inventory. Financial data for 2024 are presented here: Required: A. Prepare the consolidated statements workpaper for the year ended December 31, 2024. B. Calculate consolidated retained earnings on December 31,2024 , using the analytical or t-account approach. Upstream and Downstream Workpaper-Partial Equity Method Lo 6 On January 1, 2023, Perry Company purchased 80% of Selby Company for $960,000. At that time Selby had capital stock outstanding of $400,000 and retained earnings of $400,000. The fair value of Selby Company's assets and liabilities is equal to their book value except for the following: Orc-uau or the inventory was sold in 2023; the remainder was sold in 2024. At the end of 2023 , Perry Company had in its ending inventory $54,000 of merchandise it had purchased from Selby Company during the year. Selby Company sold the merchandise at 20% above cost. During 2024, Perry Company sold merchandise to Selby Company for $300,000 at a markup of 20% of the selling price. At December 31,2024 , Selby still had merchandise that it purchased from Perry Company for $78,000 in its inventory. Financial data for 2024 are presented here: Required: A. Prepare the consolidated statements workpaper for the year ended December 31, 2024. B. Calculate consolidated retained earnings on December 31,2024 , using the analytical or t-account approach