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 $$14$ per share$).$ As of that date, Bradford had stockholders' equity totaling $$105,000.$ Land

shown on Bradford's accounting records was undervalued by $$10,000.$ Equipment $($with a five$-$year remaining life$)$ was undervalued by

$$5,000.$ A secret formula developed by Bradford was appraised at $$20,000$ 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.

Required:

a$-1.$ Complete the table to show the allocation of the fair value in excess of book value.

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

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