Highpoint owns a 95 percent majority voting interest inMiddlebury. In turn, Middlebury owns an 80 percent majority votinginterest in Lowton. In the current year, each firm reports thefollowing income and dividends. Separate Company income figures donot include any investment or dividend income.

Separate Company Income   Dividends Declared

Highpoint     $425,000                   $200,000

Middlebury ?340,000??             150,000?

Lowton ?        250,000???          75,000

EXCEL - All calculations should be performed withinthe spreadsheet-you should enter only the numbers that are providedby the problem, and every other calculation should be done using anExcel formula.

In addition, in computing its income on a full accrual basis,Middlebury’s acquisition of Lowton necessitates excessacquisition-date fair value over book value amortizations of$25,000 per year. Similarly, Highpoint’s acquisition of Middleburyrequires $20,000 of excess fair-value amortizations.

Required Prepare an Excel spreadsheet that computes thefollowing:

1. Middlebury’s net income including its equity in Lowtonearnings.

2. Highpoint’s net income including its equity in Middlebury’stotal earnings.

3. Total entity net income for the three companies.

4. Net income attributable to the noncontrolling interests.

5. Difference between these elements: Highpoint’s net income.Total entity net income for the three companies less net incomeattributable to the noncontrolling interests of the total entity.(Hint: The difference between these two amounts should bezero.)

<3 <3 <3 who ever complete this thanks I will try tolearn on this example for the future!!