Required:

Note: Use cells A$2$ to C$24$ from the given information and amounts calculated below to complete this question.

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. On January $1,2023,$ QuickPort Company acquired $90$ percent of the outstanding voting stock of NetSpeed, Incorporated for

$$846,000$ in cash and stock options. At the acquisition date, NetSpeed had common stock of $$840,000$ and Retained Earnings

of $$48,000.$ The acquisition$-$date fair value of the $10$ percent noncontrolling interest was $$94,000.$ QuickPort attributed the

$$62,000$ 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:

On July $1,2023,$ QuickPort sold communication equipment to NetSpeed for $$44,400.$ The equipment

originally cost $$50,400$ and had accumulated depreciation of $$9,240$ and an estimated remaining life

of three years at the date of the intra$-$entity transfer. On January $1,2023,$ QuickPort Company acquired $90$ percent of the outstanding voting stock of NetSpeed, Incorporated, for $$1,026,000$ in cash and stock options. At the acquisition date, NetSpeed had common stock of $$1,080,000$ and Retained Earnings of $$54,000.$ The acquisition$-$date fair value of the $10$ percent noncontrolling interest was $$114,000.$ QuickPort attributed the $$6,000$ 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:

Items Net Income Dividends Declared

$2023$ $ $8,400$ $ $1,200$

$202412,0001,200$

On July $1,2023,$ QuickPort sold communication equipment to NetSpeed for $$9,000.$ The equipment originally cost $$19,000$ and had accumulated depreciation of $$11,800$ and an estimated remaining life of three years at the date of the intra$-$entity transfer.

Required:

Compute the equity method balance in QuickPort's Investment in NetSpeed, Incorporated, account as of December $31,2024.$

Prepare the worksheet adjustments for the December $31,2024,$ consolidation of QuickPort and NetSpeed.