Allen Company acquired 100 percent of Bradford Company's voting stock on January 1, 2014, by issuing 10,000 shares of its $10 par value common stock (having a fair value of $25.5 per share). As of that date, Bradford had stockholders' equity totaling $210,050. Land shown on Bradford's accounting records was undervalued by $15,700. Equipment (with a five-year remaining life) was undervalued by $5,250. A secret formula developed by Bradford was appraised at $24,000 with an estimated life of 20 years. Following are the separate financial statements for the two companies for the year ending December 31, 2018. There were no intra- entity payables on that date. Credit balances are indicated by parentheses. $ $ Allen Company (674,000) 223,000 148,500 (107,850) (410, 350) (680,000) (410, 350) 175,500 (914,850) 424,000 269,900 Bradford Company $ (307,500) 117,000 80,400 0 $ (110,100) $ (101, 100) (110,100) 40,000 $ (171,200) $ 122,000 0 $ Revenues Cost of goods sold Depreciation expense Subsidiary earnings Net income Retained earnings, 1/1/18 Net income (above) Dividends declared Retained earnings ,12/31/18 Current assets Investment in Bradford Company Land Buildings and equipment (net) Total assets Current liabilities Common stock Additional paid-in capital Retained earnings, 12/31/18 Total liabilities and equity $ $ 510,000 900,000 $ 2,103,900 $ (499,050) (600,000) (90,000) (914,850) $(2,103,900) 70,500 182,000 $ 374,500 $ (138,300) (60,000) (5,000) (171, 200) $ (374,500) a-1. Complete the table to show the allocation of the fair value in excess of book value. a-2. What balance will Allen show in its Subsidiary Earnings account? b. Complete the worksheet by consolidating the financial information for these two companies