3. (20 pts) Blackfish Company purchased 100% of Tautog Company on January 1, 2020 for $1,200,000 in cash. On the day of the purchase, Tautog had the following net assets: Book Value Fair Value Life Cash, receivables Equipment Land Building (net) 3 years $100,000 375,000 200,000 500,000 $100,000 450,000 150,000 580,000 5 years 1 year Payables Blackfish $300,000 Net Assets $875,000 $200,000 $1,080,000 Blackfish uses the equity method, as required. a. Prepare a schedule showing how to allocate the difference in fair value given up by Blackfish and what is received from Tautog. b. Determine the amortization of excess amortization for 2020. Assume that the purchase was a merger. Record the purchase on the books of Blackfish. C