On January 1, 2020, Allan Company bought a 15 percent interest in Sysinger Company. The acquisition price of $228,500 reflected an assessment that all of Sysinger's accounts were fairly valued within the company's accounting records. During 2020, Sysinger reported net income of $123,500 and declared cash dividends of $36,700. Allan possessed the ability to significantly influence Sysinger's operations and, therefore, accounted for this investment using the equity method. On January 1, 2021, Allan acquired an additional 80 percent interest in Sysinger and provided the following fair-value assessments of Sysinger's ownership components: Consideration transferred by Allan for 80% interest $ 1, 457, 600 Fair value of Allan's 15% previous ownership 273, 300 Noncontrolling interest's 5% fair value 91, 100 Total acquisition-date fair value for Sysinger Company $ 1, 822,000 Also, as of January 1, 2021, Allan assessed a $438,000 value to an unrecorded customer contract recently negotiated by Sysinger. The customer contract is anticipated to have a remaining life of four years. Sysinger's other assets and liabilities were judged to have fair values equal to their book values. Allan elects to continue applying the equity method to this investment for internal reporting purposes. At December 31, 2021, the following financial information is available for consolidation:Allan Sysinger Company Company Revenues $ (1, 019, 600) $ (416,000 ) Operating expenses 673, 200 251, 600 Equity earnings of Sysinger (52, 155) Gain on revaluation of Investment in Sysinger to fair value (31, 780) Net income $ 430, 335 $ 164, 400 Retained earnings, January 1 $ (963, 600) $ (657,600) Net income (430, 335) (164, 400) Dividends declared 139,900 43,600 Retained earnings, December 31 $ (1, 254, 035) $ (778,400) Current assets $ 287 ,500 $ 591, 300 Investment in Sysinger (equity method) 1, 741, 635 Property, plant, and equipment 865, 000 633,000 Patented technology 890, 200 397, 400 Customer contract Total assets $ 3,784, 335 $ 1, 621, 700 Liabilities $ (1, 363, 300) $ (129,300) Common stock (941, 000) (541, 000) Additional paid-in capital (226, 000) (173, 000) Retained earnings, December 31 (1, 254, 035) (778, 400) Total liabilities and equities $ (3, 784, 335) $ (1, 621, 700)a. How should Allan allocate Sysinger's total acquisition-date fair value (January 1, 2021) to the assets acquired and liabilities assumed for consolidation purposes? b. Calculate the following as they would appear in Allan's pre-consolidation 2021 statements. . Equity in earnings of Sysinger . Gain on revaluation of Investment in Sysinger to fair value . Investment in Sysinger c. Prepare a worksheet to consolidate the financial statements of these two companies as of December 31, 2021. At year-end, there were no intra-entity receivables or payables.Req A Req B1 Req B2 Reg B3 Required C How should Allan allocate Sysinger's total acquisition-date fair value (January 1, 2021) to the assets acquired and liabilities assumed for consolidation purposes? Fair value of Sysinger 1/1/21 Book value of Sysinger 1/1/21 Excess fair value over book value 0 To customer contract To goodwill $ 0 Req A Req B1 Req B2 Req B3 Required C Calculate the Gain on revaluation of Investment in Sysinger to fair value in Allan's pre-consolidation 2021 statements. Consideration transferred 2020 net income 2020 dividends Book value at 1/1/21 Fair value at 1/1/21 Gain on revaluation Req A Req B1 Req B2 Req B3 Required C Calculate the Investment in Sysinger in Allan's pre-consolidation 2021 statements. Fair value at 1/1/21 Consideration transferred 1/1/21 Equity earnings 2021 Net income Customer contract amortization Dividends Investment in Sysinger 12/31/21 Prepare a worksheet to consolidate the nancial statements of these two companies as of December 3]., 2021. At yearaend, there were no intraaentity receivables or payables. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.) Revenues $ (1,019,600) $ Operating expenses 673,200 Equity earnings of Sysinger (52,155) Gain on revaluation of Investment in Sysinger to fair value Separate company net income Consolidated net income (31,730) 430,335 $ (164,400) NI attributable to noncontrolling interest NI attributable to Allan Company Retained earnings, January 1 $ (963,600) $ (657,600) Net income (430,335) (164,400) Dividends declared Retained earnings, December 31 Current assets $ $ (1,254,035) 139,900 $ 28?,500 43,600 (778,400) Show leisA Investment in Sysinger (equity method) 1,741,635 0 Property, plant, and equipment 865,000 633,000 Patented technology 890,200 397,400 Customer contract 0 0 Goodwill 0 Total assets $ 3,784,335 $ 1,621,700 Liabilities $ (1,363,300) $ (129,300) Common stock (941,000) (541,000) Additional paid in capital (226,000) (173,000) Retained earnings, December 31 (1,254,035) (778,400) NCI in Sysinger, 1/1 0 0 NCI in Sysinger, 12/31 0 0 $ 0 Total liabilities and equities $ (3,784,335) $ (1,621,700) $ 0 $ 0