Allen Company acquired 100 percent of Bradford Company's voting stock on January 1, 2017, 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, 2021. There were no intra-entity payables on that date. Credit balances are indicated by parentheses. Revenues Cost of goods sold Depreciation expense Subsidiary earnings Net income Allen Company $ (485,000) 160,000 130,000 Bradford Company $ (190,000) 70,000 52,000 (66,000) 0 $ (261,000) Retained earnings, 1/1/21 $ Net income (above) (659,000) (261,000) $ (68,000) $ (98,000) Dividends declared 175,500 (68,000) 40,000 Retained earnings,12/31/21 $ (744,500) $ (126,000) Current assets $ 268,000 $ 75,000 Investment in Bradford 216,000 0 Company Land Buildings and equipment (net) Total assets Current liabilities Common stock Additional paid-in capital Retained earnings, 12/31/21 Total liabilities and equity (190,000) (600,000) (90,000) (744,500) $ (1,624,500) 58,000 161,000 $ 294,000 $ (103,000) (60,000) (5,000) (126,000) $ (294,000) 427,500 713,000 $ 1,624,500 $ 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.