On January 1, 2016, Nylah Corporation issued 10,000 shares of its own $10 par value common stock at January 1, 2016. Was selling at $70 per share. Just before the business combination balance sheet inforamiton of the two corporations was as follows:

	Nylah Book Value	Berry Book Value	Berry Fair Value
Cash	25,000	12,000	12,000
Inventories	55,000	32,000	36,000
Other current assets	110,000	90,000	110,000
Land	100,000	30,000	90,000
Plant and equipment-net	660,000	250,000	375,000
	950,000	414,000	623,000
Liabilities	220,000	50,000	50,000
Capital stock, $10 par value	500,000	100,000
Additional paid-in capital	170,000	40,000
Retained earnings	60,000	224,000
	950,000	414,000

REQUIRED:

1) Show preliminary computations.

2) Prepare a schedule to allocate excess of cost over book value.

3) Preapre the journal entry on Nylah Corporation's books to account for the business combination.

4) Prepare a consolidated balance sheet for Nylah Corporation and Subsidiary immediately after the business combination on page 9. You must properly label all items.

You need to ocmplete the working paper on next page 8 before you prepare the consolidated balance sheet.

5) Give all elinating journal entries on page 7.