Allen Company acquired 100 percent of Bradford Companys voting stock on January 1, 2017, by issuing 10,000 shares of its $10 par value common stock (having a fair value of $19.50 per share). As of that date, Bradford had stockholders equity totaling $145,450. Land shown on Bradfords accounting records was undervalued by $10,700. Equipment (with a five-year remaining life) was undervalued by $6,850. A secret formula developed by Bradford was appraised at $32,000 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. Allen Company Bradford Company Revenues $ (653,000 ) $ (212,500 ) Cost of goods sold 216,000 79,000 Depreciation expense 135,000 60,900 Subsidiary earnings (69,630 ) 0 Net income $ (371,630 ) $ (72,600 ) Retained earnings, 1/1/21 $ (792,000 ) $ (105,000 ) Net income (above) (371,630 ) (72,600 ) Dividends declared 175,500 40,000 Retained earnings ,12/31/21 $ (988,130 ) $ (137,600 ) Current assets $ 454,000 $ 99,000 Investment in Bradford 237,300 0 Company Land 430,000 66,600 Buildings and equipment (net) 814,000 182,000 Total assets $ 1,935,300 $ 347,600 Current liabilities $ (257,170 ) $ (145,000 ) Common stock (600,000 ) (60,000 ) Additional paid-in capital (90,000 ) (5,000 ) Retained earnings, 12/31/21 (988,130 ) (137,600 ) Total liabilities and equity $ (1,935,300 ) $ (347,600 ) 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.