On January 1, 2020, Allan Company bought a 15 percent interest in Sysinger Company. The acquisition price of $218,500 reflected an assessment that all of Sysingers accounts were fairly valued within the companys accounting records. During 2020, Sysinger reported net income of $118,200 and declared cash dividends of $35,200. Allan possessed the ability to significantly influence Sysingers 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 Sysingers ownership components: Consideration transferred by Allan for 80% interest $ 1,441,600 Fair value of Allan's 15% previous ownership 270,300 Noncontrolling interest's 5% fair value 90,100 Total acquisition-date fair value for Sysinger Company $ 1,802,000 Also, as of January 1, 2021, Allan assessed a $427,000 value to an unrecorded customer contract recently negotiated by Sysinger. The customer contract is anticipated to have a remaining life of four years. Sysingers 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 Company Sysinger Company Revenues $ (993,900 ) $ (410,000 ) Operating expenses 656,300 248,000 Equity earnings of Sysinger (52,488 ) 0 Gain on revaluation of Investment in Sysinger to fair value (39,350 ) 0 Net income $ 429,438 $ 162,000 Retained earnings, January 1 $ (961,600 ) $ (648,000 ) Net income (429,438 ) (162,000 ) Dividends declared 139,600 43,000 Retained earnings, December 31 $ (1,251,438 ) $ (767,000 ) Current assets $ 286,900 $ 582,800 Investment in Sysinger (equity method) 1,723,538 0 Property, plant, and equipment 857,000 625,000 Patented technology 882,000 392,400 Customer contract 0 0 Total assets $ 3,749,438 $ 1,600,200 Liabilities $ (1,349,000 ) $ (143,200 ) Common stock (932,000 ) (530,000 ) Additional paid-in capital (217,000 ) (160,000 ) Retained earnings, December 31 (1,251,438 ) (767,000 ) Total liabilities and equities $ (3,749,438 ) $ (1,600,200 ) How should Allan allocate Sysingers total acquisition-date fair value (January 1, 2021) to the assets acquired and liabilities assumed for consolidation purposes? 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 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.