On January 1,2023 , Parent Co. paid $600,000 for a 75% interest of Sport Co. In this moment Sport Co. had Comm, Parent Co. paid $600,000 for a 75% interest of Sport Co. In this mal $100,000. Additional Paid-in Capital $100,000 and Retained Earnings of $500,000. The fair value of net assets was the same as record book values. During 2023, Sport Co. had income of $240,000, and declared and paid dividend for $100,000. Required a. Prepare a value analysis schedule for this business combination. b. Prepare the determination and distribution schedule for this business combination c. Prepare the necessary elimination entries in general journal form