7. On December 31,2022 , Orange Company purchased 80% of the common stock of Green Company for $1,300,000. On this date, Green had total owners' equity of $650,000 (common stock $100,000; other paid-in capital, $250,000; and retained eamings, $300,000 ). Any excess of cost over book value is due to the under or overvaluation of certain assets and liabilities. Assets and liabilities with differences in book and fair values are provided in the following table: remauning excess, if any, is due to goodwill. Required: 1. Prepare the entry for Orange's investment in Green. 2. Prepare a value analysis schedule. 3. Prepare a schedule for determination and distribution of excess. 4. Prepare the consolidated worksheet at December 31, 2022. 5. Prepare the elimination journal entries. Trial Balance for Orange on Dec 31, 2022: Trial Balance for Orange on Dec 31, 2022