On January 1, 2012, the shareholders of Untraded Company request 6,000 traded shares in exchange for all of their 5,000 shares. This is an exchange ratio of 1.2 to 1. The fair value of a share of Traded Company is $60. The acquisition occurs when the two companies have the following balance sheets:

Required
1. Prepare an appropriate value analysis and a determination and distribution of excess schedule.
2. Complete a consolidated worksheet for Untraded Company and its subsidiary, Traded Company, as of January 1, 2012.

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Untraded Company (he acquirer) Balance Sheet December 31, 2011 Assets Liabilities and Equity 10,000 Long-term liabilities 5,000 Building [net) Equipment (nel) Total assets 150,000 Common stock ($1 par) (5,000 shares 5,000 115,000 135,000 $260,000 100,000 Paid-in capital in excess of par.. Retained earnings $260,000 Tota labilities and equity Traded Company (the acquiree) Balance Sheet December 31, 2011 Assets Book Value Fair Value Liabilities and E Book Value Fair Value Current assets.. $ 5,000 5,000 Long-term liabilities 10,000 $10,000 Building [net) 100,000 200,000 Common stock ($1 par) 4,000 shares) 20,000 40,000 Paid-in capital in excess of pa 96,000 Retained earnings $125,000 $245,000 Total labilities and equity. $125,000 4,000 Equipment (ne) ....15,000 Total assets