Do the following exercises:

1. calculate the Goodwill of Lion Corp. and Vazquez Corp., and assume that it pay $404,000

2. Calculate the advantageous purchase of Lion Corp. and Vezquez Corp and assume that iI pay $264,000

Assets	Book Value	Fair Value
Accounts receivable	$ 38,000	$ 38,000
Inventory	50,000	55,000
Land	20,000	60,000
Buildings (net)	50,000	90,000
Equipment (net)	30,000	60,000
Patent	25,000	40,000
Copyright	-	50,000
Total Assets	$ 213,000	$ 393,000
Liabilities & Equity
Current liabilities	$ 10,000	$ 10,000
Bonds payable	30,000	32,000
Total liabilities	40,000	42,000

Do the following:

1. make the analysis of price paid for both (Goodwill and advantageous purchase)

2. Make elimination entries.

3 do the table of the "allocation".

4 make the consolidated state.