E7-2) Block Purchase, Control with first block
Baker corporation purchases a 60% interest in Hardee Company on January 1, 2015, for $135,000. On that date, Hardee Company has the following stockholders equity:
Common Stock ($10 par)	$100,000
Retained Earnings	$20,000
Any excess of cost over fair value is due to equipment with a 10-year life. Baker corporation purchases another 20% interest in Hardee company for $40,000 on January 1, 2017 when hardee company has the following stockholders equity:
Common Stock ($10 par)	$100,000
Retained Earnings	$50,000
On December 31, 2019, Baker corporation and hardee company have the following balance sheets:
	Baker Corp.	Hardee Corp.
Current Assets	$285,000	$80,000
Investment in Hardee Comp.	$175,000
PPE	$740,000	$240,000
Total	$1,200,000	$320,000
Cureent Liabilites	$400,000	$100,000
Stockholders Equity:
Common Stock	$500,000	$100,000
Retained Earnings	$300,000	$120,000
Total:	$1,200,000	$320,000
Prepare a determination and distribution of excess schedule for the January 1, 2015 acquisition and analysis of the 20% acquisition on January 1, 2017. Prepare the consolidated balance sheet of Baker Corp. and subsidiary Hardee Comp. on December 31, 2019