Emily Company purchased 100% ownership of Rebecca Corporation on January 1, 2020. Both Emily Company and Rebecca Corporation will maintain separate incorporation and continue operations. To acquire control Emily paid $1,250,000 cash for all of Rebecca Corporation's shares. At the time of acquisition, Rebecca Corporation's equity consisted of Common Stock $150,000, Additional Paid in Capital $373,000, and Retained Earnings $402,000. KPMG performed a third-party analysis on Rebecca Corporation per the contract they signed with Emily Company. KPMG assessed the fair value of their newly acquired subsidiary Rebecca. The following differences between book value (recorded value) and fair value were found regarding Rebecca's assets and liabilities: Required: 1) Prepare an excess and allocation schedule for Emily Company's purchase of Rebecca Corporation as of January 1, 2020. Include, if necessary, a depreciation/amortization schedule. 2) Prepare consolidation entries (S,A,I,D,E) for Emily Company for the year ended December 31, 2020. Entries may be handwritten or typed. In addition, complete the consolidated worksheet for Emily Company and its subsidiary Rebecca Corporation as of December 31, 2020, showing all consolidated totals. All inputs on the consolidation worksheet must be handwritten. 3) Prepare consolidation entries (S,A,1,D,E) for Emily Company for the year ended December 31, 2021. Entries may be handwritten or typed. In addition, complete a consolidation worksheet for Emily Company and its subsidiary Rebecca Corporation as of December 31, 2021, showing all consolidated totals. All inputs on the consolidation worksheet must be handwritten. 4) Ignoring your answer to requirements 2 and 3, prepare consolidation entries (S,A,I,D,E) for Emily Company for the year ended December 31, 2020 assuming Emily Company uses the Initial Value Method to account for its investment in Rebecca Corporation. Entries may be handwritten or typed. In addition, complete the consolidated worksheet for Emily Company and its subsidiary Rebecca Corporation as of December 31, 2020, showing all consolidated totals. All inputs on the consolidation worksheet must be handwritten