On $12/31/2023,$ P$,$ Inc. paid $$495,000$ cash to acquire $100\%$ of the outstanding voting common stock of AI

Software Company.

At the acquisition date, AI Software's net assets equaled their recorded values, except:

$$ Computer software fair value $=$ $$70,000$

$$ Equipment fair value $=$ $$30,000$

$$ Unrecorded client contracts had a fair value $=$ $$100,000,$ and

$$ Unrecorded in$-$process R&D had a fair value $=$ $$40,000.$

Note $1$: See the accompanying Excel worksheet for P$,$ Inc. and AI Software$$s pre$-$acquisition trial balances that

must be used for this problem and a schedule, $$Table A$,$ which details the recorded values and fair values discussed

above.

Required

$1.$ Prepare a schedule showing the allocation of $$s acquisition price to AI Software's net assets acquired,

including goodwill, if applicable.

$2.$ Assuming AI Software Company is dissolved at acquisition and its assets and liabilities are transferred to Prospector,

Inc., prepare the journal entry to record Prospector's acquisition of AI Software.

$3.$ Assuming AI Software Company remains in business as a separate operating subsidiary of P$,$ Inc., prepare:

a$.$ A journal entry to record P$\text{'}$s acquisition of AI Software,

b$.$ The worksheet to consolidate P$,$ Inc., and AI Software Company as of the acquisition date,

$12/31/2023.$

I do not understand how to solve!!! Pls help.