Please answer requirement A and all 8 journal entries for requirement B.

On January 1, 2023, Corgan Company acquired 70 percent of the outstanding voting stock of Smashing, Incorporated, for a total of $1,155,000 in cash and other consideration. At the acquisition date, Smashing had common stock of $840,000, retained earnings of $390,000, and a noncontrolling interest fair value of $495,000. Corgan attributed the excess of fair value over Smashing's book value to various covenants with a 20 -year remaining life. Corgan uses the equity method to account for its investment in Smashing. During the next two years, Smashing reported the following: Corgan sells inventory to Smashing using a 60 percent markup on cost. At the end of 2023 and 2024, 40 percent of the current year purchases remain in Smashing's inventory. Required: a. Compute the equity method balance in Corgan's Investment in Smashing, Incorporated, account as of December 31, 2024. b. Prepare the worksheet adjustments for the December 31,2024 , consolidation of Corgan and Smashing. Prepare the worksheet adjustments for the December 31, 2024, consolidation of Corgan and Smashing. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries 1 2 3 5 6 7 8 Note: Enter debits before credits