advanced accounting solution please

n g Ahmad Corpo t id at fara with a five-ya closing cotries) on the books of Ahmad athy's els and abili ed by 525.000) and VHAT IS tries other i n Fall REQUIRED: P re all the 201610 con for be Corporation's outstanding voting P2-5 d liabilities on January 1, along Prepare an allocation schedule; compute income and the investment balance Pop Corporationid S600 for 30 percent interest in soape ry 1, 2016. The book values and fair values of Son asema with amortization data are as follows (in thousands Book Value Fair Value 5 400 Accounts receivable net Love stories (sold in 2016) 1.000 700 Cash Other current assets Land Buildings (10-year remaining life) Equipement et (7-year remaining life) Total assets Accounts payable Other current liabilities Bonds payable (due January 1, 2021) Capital stock, S10 par Retained earnings Total equities 200 900 1.500 1,200 $5.900 5 800 200 1.000 3,000 900 400 700 1.200 200 1.700 2,000 500 56,700 $ 800 200 1.100 $5.900 Son Corporation reported net income of 51,200,000 for 2016 and paid dividends of S600.000 REQUIRED 1. Prepare a schedule to allocate the investment fair values/book value differentials relating to Pops ment in Son. 2. Calculate Pop's income from Son for 2016. 3. Determine the balance of Pop's Investment in Son account at December 31, 2016