View previous stum 6 30 Sims Prire Allen Company acquired 100 percent of Bradford Company's voting stock on January 1 2017, by issuing 10.000 shares of its 510 per value common stock having a fair value of $16.00 per share). As of that date, Bradford had stockholders' equity lotning 109.800 Land shown on Bradford's accounting records was undervalued by 519700 Equipment with a five-year remaining was undervalued by $7,300. A secret formula developed by Bradford was appraised of $23.200 with an estimated site of 20 years The following are the separate financial statements for the two companies for the year ending December 31, 2021. There were no intra-entity payables on that date. Credit balances are indicated by parentheses Allen Bradford Company Revenues Company Cost of goods sold $1649.000 (268,7501 214,000 Depreciation expense 101,500 150, 750 Subsidiary earnings 73,200 (91,430) Net income $ 373,610) 394,50) Retained earnings, 1/1/21 1740,000 3110,40) Net Income (above) 1373,680) (94,5) Dividends declared 175,500 40,000 Retained earnings 12/31/21 $ 1044,180) (564,450) Current assets 5 344,00 106,000 Investment in Bradford 266.550 Company Land 586,000 65,700 Buildings and equipment (net) BR2,000 202.000 Total assets $ 2.678.550 378,700 Current liabilities $444,370) $149,250) Connon stock (600,000) (60,000) Additional paid-in capital (90,000) 15,000) (944189) (164 450) Retained earnings, 12/31/21 Total Liabilities and equity $(2,078,550) $(378,700) ce a-1. Complete the table to show the allocation of the fair value in excess of book value a-2. Complete the table to show the computation for Subsidiary Earnings. con 6 71 Next >