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McKinney Enterprises acquired Pottsboro, Inc. on January $1,2019.$ The $$440,000$ excess of cost over book value$$of Pottsboro$$s net assets was partly attributable to a patent undervalued by $$210,000.$ The patent has a $10-$year$$life$.$ There were no other FMV Adjustments than the patent.$$ The parent uses the equity method of pre$-$consolidation Equity$$investment bookkeeping. The separate financial statements of the two companies for $2022$ are presented below.REQUIREMENTS ARE AT THE BOTTOM OF THE WORKSHEET!!!$$McKinney EnterprisesYr Ended $12/31/22$Pottsboro$,$ Inc.Yr Ended $12/31/22$Sales revenue$$3,100,000$$$440,000$Cost of goods sold$(1,580,000)(252,000)$Gross profit$1,520,000188,000$Operating expenses$(485,000)(68,000)$Equity income$99,000-$Net Income$$1,134,000$$$120,000$Retained Earnings, $1/1/22$$$1,700,000$$$750,000$Net income$1,134,000120,000$Dividends$(65,000)(42,000)$Retained Earnings, $12/31/22$$$2,769,000$$$828,000$Cash and receivables$$535,000$$$501,000$Inventory$758,000840,000$Equity investment$1,844,160$Property$,$ plant & equipment $($Net$)4,558,8401,205,480$Total Assets$$7,696,000$$$2,546,480$Accounts payable$$265,000$$$182,430$Accrued liabilities$458,000272,390$Notes payable$780,000603,500$Common stock$460,000204,540$Additional paid$-$in capital$2,964,000455,620$Retained Earnings, $12/31/222,769,000828,000$Total Liabilities and Equities$$7,696,000$$$2,546,480$Required:$$a$.)$ Prepard all the Equity Accounting Entries $($in good form$)$ of the Parent for $2022$ including a carryforward worksheet$$b$.)$ Prepare the General ledger T$-$account of the Equity Investment of the Parent Based upon entries in $($a$)$ and the ending balance in the above TBalso calculate the beginning balance of the equity investment account in the T$-$Account.$$b$.)$ Prepare all necessary consolidation entries for $2022$ consolidated financial statements.$$c$.)$ Prepare the Consolidated worksheet$$d$)$ Prepare in good form the Consolidated financial statements except cash flow

Please prepare in an Excel spreadsheet, show calculations within each cell, and show the debits and credits.

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