ON December 31, 2008, Dalker Co. acquired 85% of Bleaker Inc. by paying $750,000. Bleaker Reported Common stock on that date of $400,000 with retained earnings of $305,000.Equipment was undervalued in the company's financial records by $48,000. this equipment had a six year remaining life. Customer list of $50,000 were to be recognized and amortized over 10 years.

Bleaker earned incomes and paid cash dividends as follows:

2009, $125,000 net income and $37,000 dividend.

2010 $135,000 net income and $53,000 dividend.

2011 $162,000 net income and $76,000 dividend.

There have no change in Carper's common stock account since acquisition.

1. Prepare the journal entry to record the acquisition of Bleaker Inc. by Dalker Co.
2. Prepare the journal entry to record the consolidating elimination entry for date of acquisition on December 31, 2008.
3. Prepare the equity method of Accounting entries recorded on Dalkers general ledger for 2009.
4. Prepare the journal entry to record the consolidating elimination entry in one year subsequent to the date of acquisition on December 31, 2009.