Allen Company acquired $100$ percent of Bradford Company's voting stock on January $1,2020,$ by Issuing $10,000$ shares of its $$10$ par value common stock $($having a falr value of $$25\mathrm{.}00$ per share$).$ As of that date, Bradford had stockholders' equity totaling $$199,150.$ Land shown on Bradford's accounting records was undervalued by $$16,200.$ Equipment $($with a five$-$year remaining life$)$ was undervalued by $$7,850.$ A secret formula developed by Bradford was appralsed at $$26,800$ with an estimated life of $20$ years.

The following are the separate financlal statements for the two companies for the year ending December $31,2024.$ There were no intra$-$entity payables on that date. Credit balances are indicated by parentheses.

$\backslash$table$[[$Accounts$,$Allen Company,Bradford Company$],[$Revenues$,$$$(545,000),$$$(245,000)$

undervalued by $$7,850.$ A secret formula developed by Bradford was appralsed at $$26,800$ with an estimated life of $20$ years.

The following are the separate financial statements for the two companies for the year ending December $31,2024.$ There were no Intra$-$entity payables on that date. Credit balances are indicated by parentheses.

$\backslash$table$[[$Accounts$,$Allen Company,Bradford company$],[$Revenues$,$$$(545,000),$$$(245,000)$

Allen Company acquired $100$ percent of Bradford Company's voting stock on January $1,2020,$ by Issuing $10,000$ shares of its $$10$ par value common stock $($having a fair value of $$25\mathrm{.}00$ per share$).$ As of that date, Bradford had stockholders' equity totaling $$199,150.$ Land shown on Bradford's accounting records was undervalued by $$16,200.$ Equipment $($with a five$-$year remaining life$)$ was undervalued by $$7,850.$ A secret formula developed by Bradford was appalsed at $$26,800$ with an estimated life of $20$ years.

The following are the separate financial statements for the two companles for the year ending December $31,2024.$ There were no Intra$-$entity payables on that date. Credit balances are Indicated by parentheses.

Requlred:

Q$-1.$ Complete the table to show the allocation of the falr value in excess of book value:

a$-2.$ Complete the table to show the computation for Subsidlary Earnings.

b$.$ Complete the worksheet by consolidating the financial information for these two companles.

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Complete the table to show the computation for Subsidiary Earnings:

Amounts