Hinterland Company acquired all of the common stock of Uberland Corporation on January 1, 2020. As of that date Uberland had the following trial balance. Accounts Debit $ Uberland Credit S 60,000 Fair Values January 1, 2020 50,000 Accounts payable Accounts receivable Additional paid-in capital Buildings (net) (20-year life) Cash and short-term investments 60,000 140,000 $188,000 70,000 Common stock 300,000 240,000 $216,000 110,000 90,000 $102,000 Equipment (net) ( year life) Intangible assets (indefinite life) Land Long-term liabilities (due 12/31/22) Retained earnings, 1/1/20 Supplies Totals 180,000 120,000 20,000 $720,000 $720,000 Additional information: 1. During 2020, Uberland reported net income of $96,000 while paying dividends of $12,000. 2. During 2021, Uberland reported net income of $132,000, while paying dividends of $36,000. 3. Assume that Hinterland acquired the common stock of Uberland for $588,000 in cash. Any excess of consideration transferred over fair value of assets and liabilities acquired is due to an unamortized patent to be amortized over 10 years. Hinterland decided to use the equity method for this investment. Required: 1. Calculate the book value for Uberland (1.5 marks) 2. Prepare the consideration allocation schedule to assign any excess to identifiable assets of Uberland. (2.5 marks) 3. Prepare consolidation worksheet entries for December 31, 2020.(4.25 marks) 4. Prepare consolidation worksheet entries for December 31, 2021.(4.25 marks)