On January 1, 2020, Nylah Corporation issued 10,000 shares of its own $10 par value common stock for 9,000 shares of the outstanding stock of Berry Corporation in an acquisition. Nylah common stock at January 1, 2020 was selling at $70 per share. Just before the business combination, balance sheet information of the two corporations was as follows:
		Nylah Book Value		Berry Book Value
Cash	$	25,000	$	12,000	$
Inventories		55,000		32,000
Other current assets		110,000		90,000
Land		100,000		30,000
Plant and equipment-net		660,000		250,000
	$	950,000	$	414,000	$
Liabilities	$	220,000	$	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

1. Show preliminary computations.

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

3.	Prepare the journal entry on Nylah Corporations books to account for the business combination
4.	Prepare a consolidated balance sheet for Nylah Corporation and Subsidiary

5. Give all eliminating journal entries on this page