On January 1, 2019, Perry Company purchased 8,000 shares of Soho Company's common stock for $120,000. Immediately after the stock acquisition, the statements of financial position of Perry and Soho appeared as follows:

Question: Suppose instead that Perry acquired the 8,000 shares for $20 per share including a $5 per share control premium. Prepare a computation and allocation of difference schedule.

Assets Perry Soho Cash $ 39,000 $ 19,000 Accounts receivable 53,000 31,000 Inventory 42,000 25,000 Investment in Soho Company 120,000 Plant assets 160,000 110,500 Accumulated depreciation-plant assets _(52,000) _(19,500) Total $362,000 $166,000 Liabilities and Owners' Equity Current liabilities $ 18,500 $ 26,000 Mortgage notes payable 40,000 Common stock, $10 par value 120,000 100,000 Other contributed capital 135,000 16,500 Retained earnings __48,500 _ 23,500 Total $362,000 $166,000