On 12/31/24 Big Cо аcquired 90 percent оf Little Inc.’s cоmmon stock for $864,000. At thаt dаte, the fair value of the noncontrolling interest was $96,000. Of the $240,000 differential, $5,000 related to the increased value of Little’s inventory, $75,000 related to the increased value of its land, $60,000 related to the increased value of its equipment, and $50,000 was associated with a change in the value of its notes payable due to increasing interest rates. Little’s equipment had a remaining life of 15 years from the date of combination. Little sold all inventory it held at the end of 20X4 during 20X5; the land to which the differential related also was sold during the year for a large gain. The amortization of the differential relating to Little’s notes payable was $7,500 for 2025. At the date of combination, Little reported retained earnings of $120,000, common stock outstanding of $500,000, and premium on common stock of $100,000. For the year 2025, it reported net income of $150,000 but paid no dividends. Big accounts for its investment in Little using the equity method. Required: a. Prepare all equity method entries for Big for 2025. b. Prepare all consolidation/elimination entries for 2025. Assume Little's accumulated depreciation at 12/31/24 was $100,000. NOTE: For the entries, be sure to list debits first, then credits. Instead of worrying too much about formatting, if you put "....." ahead of an account title in a journal entry I'll assume it's a credit, e.g., Cash 20,000 ......Sales revenue 20,000 Alternatively, you can "insert" --> "table" in the answer box.