I do not understand what Im suppose to do, how do I solve this problem step by step?

Allocation schedule and balance sheet The balance sheets of Pub Corporation and Sun Corporation at December 31, 2010, are summarized with fair value information as follows (in thousands): Pub Corporation Sun Corporation Book Value Fair Value Book Value Fair Value Assets Cash Receivables-net Inventories Land Buildings-net Equipment-net $115 40 120 45 200 180 $700 $115 40 150 100 300 245 $950 $ 10 20 50 30 100 90 $300 S 10 20 30 100 150 150 $460 Total assets Equities Accounts payable Other liabilities Capital stock, $10 par Other paid-in capital Retained earnings Total equities $ 30 70 $ 30 60 100 80 $ 90 90 $90 100 300 100 110 $700 $300 On January 1, 2011, Pub Corporation acquired all of Sun's outstanding stock for $300,000. Pub paid $100,000 cash and issued a five-year, 12 percent note for the balance. Sun was dissolved. REQUIRED 1. Prepare a schedule to show how the investment cost is allocated to identifiable assets and liabilities. 2. Prepare a balance sheet for Pub Corporation on January 1, 2011, immediately after the acquisition