Why are the dollar amounts that I have for Sales, Cost of goods sold and Inventory in the 2nd journal entry above different than the dollar amounts that appear on the journal entry above? What I am doing incorrectly? The dollar amounts for Sales, Cost of goods sold, and Inventory for Pop Corporation and Soda Company can all be found on the Unadjusted Trial Balance above. Alright? I hope you will be able to help me figure this out. If and after you have determined what I did incorrectly, I hope you show me the step by step work as what I did incorrectly below, please. Thank you very, very much!

Pop Corporation acquired 70 percent of Soda Company's voting common shares on January 1, 20x2, for $108,500. At that date, the noncontrolling interest had a fair value of $46,500 and Soda reported $70,000 of common stock outstanding and retained earnings of $30,000. The differential is assigned to buildings and equipment, which had a fair value $20.000 higher than book value and a remaining 10-year life, and to patents, which had a fair value $35,000 higher than book value and a remaining life of five years at the date of the business combination. Trial balances for the companies as of December 31, 20x3, are as follows: Pop Corporation Soda Company Item Debit Credit Debit Credit Cash & Accounts Receivable $ 15,400 $ 21,600 Inventory 165,000 35,000 Land 80,000 40,000 Buildings & Equipment 340,000 260,000 Investment in Soda Company 109,600 Cost of Goods Sold 186,000 79,800 Depreciation Expense 20,000 15,000 Interest Expense 16,000 5,200 Dividends Declared 30,000 15,000 Accumulated Depreciation $140,000 $ 80,000 Accounts Payable 92,400 35,000 Bonds Payable 200,000 100,000 Bond Premium 1,600 Common Stock 120,000 70,000 Retained Earnings 127,900 60,000 Sales 260,000 125,000 Other Income 13,600 Income from Soda Company 8,100 $962,000 $962,000 $471,600 $471,600 On December 31, 20x2. Soda purchased inventory for $32,000 and sold it to Pop for $48,000. Pop resold $27.000 of the inventory (ie. $27.000 of the $48,000 acquired from Soda) during 20x3 and had the remaining balance in inventory at December 31, 20x3. During 20X3, Soda sold inventory purchased for $60,000 to Pop for $90,000, and Pop resold all but $24,000 of its purchase. On March 10, 20X3, Pop sold inventory purchased for $15,000 to Soda for $30,000. Soda sold all but $7.600 of the inventory prior to December 31, 20X3. Assume Pop uses the fully adjusted equity method, that both companies use straight-line depreciation, and that | no property, plant, and equipment has been purchased since the acquisition Required: a Prepare all consolidation entries needed to prepare a full set of consolidated financial statements at December 31, 20X3, for Pop and Soda. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Difference-in-Sales (Net-Sales-Revenue) between two companies in current year Formula 1 =-Sales (Net-Sales-Revenue) for/of Parent-Company in-current year --Sales (Net-Sales Revenue) for/of Subsidiary Company-in-current year = Difference-in-Sales-(Net Sales Revenue) between two companies in current year *$260,000 is the Sales (Net Sales Revenue) for/of-Pop Corporation at the end of December 31, 20X3.1 1 *$130.000 is the-Sales (Net Sales Revenue) for/of Soda Corporation at the end of December 31, 20X3.1 =-$260,000-$125,0001 --$135,000 M VI must prepare a basic consolidation journal entry and adjusting journal entry by recording a debit-entry of $135,000 to-Sales. I Difference in Cost-of goods sold-between two companies in current year Formular =-Cost of goods sold for/of Parent Company in current year --Cost of goods sold for/of Subsidiary Company in current year = Difference in Cost of goods sold between two companies in current year *$186,000 is the Cost of goods sold for/of Pop Corporation at the end of December 31, 20X3.1 *$79,800-is the-Cost-of goods sold for/of-Soda-Corporation at the end-of-December 31, 20X3. =-$186,000-$79,800 = $106,2009 VI must prepare a basic consolidation journal entry and adjusting journal entry by recording a credit-entry of $106,200 to-Cost-of goods sold. VI must prepare-a-basic-consolidation journal entry and adjusting journal entry by recording a debit-entry of $135.000 to-Sales. I I must prepare a basic consolidation journal-entry and adjusting journal-entry-by recording a credit-entry of $106,200 to Cost of goods sold. 1 = $135,000-$106,2009 1 =-$28,8009 1 VI must prepare-a-basic-consolidation journal-entry and adjusting journal entry by recording-a- credit-entry of $13,800 to Inventory.f Deferral of this year's unrealized profits on inventory transfers: Datea Accounts and Explanationsa Debita Credita Post: refa $135,000 8 Dec 31, 20X30 Sales (R-O Cost of goods sold (A-) Inventory (A- Recorded the Deferral of this year's unrealized profits-on-inventory transfers. $106,2000 $28,8000 a 18 G 7 120.000 Sales Cost of goods sold Inventory 108,200 11,800