The determination and distribution schedule for the consolidation of Petoskey $(80\%$ interest$)$ and Sable reads in part:

Adjust identifiable accounts:

$$

Life

Amort$/$Year

Inventory

$ $20,000$

$[$sold in third quarter$]$

Building

$50,000$

$10$

$5,000$

Equipment

$40,000$

$5$

$8,000$

Goodwill

$140,000$

$$

$$

Total

$$250,000$

$$

$$

$$

Prepare the elimination entries to distribute and amortize the excess purchase cost on

a$.1/1/16,$ the date of acquisition

b$.12/31/16,$ the end of the first year following the acquisition

c$.12/31/18,$ the end of the third year following the acquisition.