PLEASE HELP its very URGENT

. . . X Question 5 On December 31, 2020, the condensed balance sheets for BC Limited and PEI Inc. were as follows: BC Ltd PEI Inc. Assets: Cash 44,000 80,000 Accounts Receivable 480,000 420,000 Inventories 650,000 540,000 Property Plant & Equipment 2,610,000 870,000 Accumulated Depreciation (1,270,000) (130,000) Total Assets 2,514,000 1,780,000 -4- Liabilities: Current Liabilities 660,000 560,000 Bonds Payable 820.000 190,000 Total Liabilities 1,480,000 1,050,000 Shareholder's Equity: Common Shares 200,000 400,000 Retained Earnings $34,000 330,000 Total SE 1,034,000 730,000 Total Liabilities and SE 2,514,000 1,780,000 POBRENDONNEW... HO... 9 2020... x Abig... w ACC... W Aca... (? A $ 61ENG 4:54 PM 2020-10-23. . . X Liabilities: Current Liabilities 560,000 560,000 Bonds Payable 820,000 490,000 Total Liabilities 1,480,000 1,050,000 Shareholder's Equity: Common Shares 200,000 400,000 Retained Earnings 834,000 330,000 Total SE 1,034,000 730,000 Total Liabilities and SE 2,514,000 1,780,000 The fair value if all of PEI's assets and liabilities were equal to their carrying value except for the following: Itern Carrying Value Fair Value Inventories 540,000 570,000 Property Plant & Equipment 740,000 790,000 Bonds Payable 490,000 550,000 Required: A. Assume that on January 1, 2021, BC acquired all of PEI's net assets by issuing new common shares with a fair value of $1,000,000. This was the only transaction on this day. i. Prepare the journal entry on BC's books to record the purchase of PEI's net assets. (5 marks) 1i. Prepare a balance sheet for BC at January 1, 2021 after recording the purchase of PEI's net assets. (10 marks) POOBASEDONNEW... 9HO. 9 2020. x Abig... W ACC... W Aca... (? A $ENG 4:54 PM 2020-10-23B. Ignore part (a). Assume instead that CInIanuary 1, 2021 BC acquired all of PEI'S common shares by issuing new common shares with a fair value of $1,000,000. This was the only Iransaclion on this day. i. Prepare the joumal entry on BC'S books to record the purchase of PEI'S common shares. (5 marks) i.i. Prepare a schedule to calculate and allocate the acquisition differential. (10 marks) iii. Prepare a consolidated balance sheet for BC and its subsidiary at January 1, 2021 after recording the purchase of PEI's common shares. Use the worksheet method. (15 marks} C. What are the similarities and differences between ne balance sheets in part (a) and (b)? {5 marks}