The following determination and distribution of excess schedule is prepared on January 1, 2012, the date on which Parker Company purchases a 60% interest in Share Company:

On December 31, 2013, Parker Company purchases an additional 20% interest in Share Company for $70,000.Share€™s stockholders€™ equity is determined to be the following at that date:
Common stock .........$100,000
Retained earnings ........ 85,000
Total stockholders€™ equity ....$185,000
On December 31, 2015, the following trial balances are available:
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Required
1. Prepare an analysis for the second purchase of Share stock by Parker Company on December 31, 2013.
2. Prepare the worksheet necessary to produce the consolidated financial statements of Parker Company and its subsidiary as of December 31, 2015. Include an income distribution schedule.

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Fair value of subsidiary..... Less book value of interest acquired: Common stock... Retained earnings Total equity.... Interest acquired Book value..... Excess of fair value over book value Adjustment of identifiable accounts: Equipment. Goodwill... Determination and Distribution of Excess Schedule Company Implied Fair Value $ 300,000 $ 100,000 60,000 $ 160,000 $140,000 Adjustment $ 100,000 40,000 Parent Price (60%) $180,000 $160,000 60% $ 96,000 $ 84,000 Amortization per Year $100,000 NCI Value (40%) $120,000 $160,000 40% $ 64,000 $ 56,000 Life 10 Worksheet Key debit D1 debit D2