I'm having some difficulties with the schedules provided. Please assist by using the schedules to answer the questions. Thanks so much!!

Common Information Ownership Interest Market Number of Price per Cash Shares Share Total Price Paid Acquired Company's Balance Sheet Before Purchase Book Market Book Value Market Value Life Value Value Life Assets Liabilities Equity Goodwill Total Liabilities and Total Assets Equity 0 0Determination and Distribution of Excess Schedule Company Value Parent Price NCI Fair Value of Subsidiary Less Book Value of Interest Acquired Common Stock Paid in Excess Retained Earnings Total Equity Interest Acquired Book Value Excess of Cost over Book Value Worksheet Accounts Adjusted Distribution Total Amortization Schedule Annual Current Prior Account Adjusted Life Amount Year Years Total Key Accounts Subject to Amortization Total Amortizations Income Distribution Schedules Subsidiary Debit Credit Internally Generated Net Income Amortizations Total NCI Share Controlling Share Parent Internally Generated Net Income Controlling Share of Subsidiary TotalExercise 3-3 Consolidated Worksheet Trial Balance Eliminations Consol NCI Control. Consol. Panther Sargo Dr Cr Net Inc. R.E. Bal. Sht. Current Assets 38,000 130,000 Investment in Subsidiary 288,000 Depreciable Fixed Assets 400,000 200,000 Accumulated Depreciation (106,000) (20,000) Goodwill Current liabilities 60,000) (40,000) Common Stock--Sargo (100,000) Retained Earnings-Sargo (150,000) Common stock - Panther (300,000) Retained earnings-Panther (200,000) Sales (150,000) (100,000) Expenses 110,000 75,000 Gain on acquisition Subsidiary (dividend) income (20,000) Dividends declared -Sargo 5,000 Totals 0 Consolidated net income NCI share Controlling share NCI Controlling retained earnings TotalsExercise 3 (LO 2) Equity method, first year, eliminations, statements. Panther Company acquires an 80% interest in Sargo Company for $272,000 in cash on January 1, 2011, when Sargo Company has the following balance sheet: Assets Liabilities and Equity Current assets ....... . . ... $100,000 Current liabilities .. $ 50,000 Depreciable fixed assets (net) . . 200,000 Common stock ($ 10 par). . ...... 100,000 Retained earnings . . 150,000 Total assets. ... $300,000 Total liabilities and equity ...... $300,000 The excess of the price paid over book value is attributable to the fixed assets, which have a fair value of $260,000, and to goodwill. The fixed assets have a 10-year remaining life. Panther Company uses the simple equity method to record its investment in Sargo Company. The following trial balances of the two companies are prepared on December 31, 2011: Panther Sargo Current Assets . ..... 38,000 130,000 Depreciable Fixed Assets 400,000 200,000 Accumulated Depreciation . .. .. (106,000) (20,000) Investment in Sargo Company. 288,000 Current Liabilities . ... (60,000) (40,000) Common Stock ($ 10 par) (300,000) (100,000) Retained Earnings, January 1, 2011 (200,000) (150,000) Sales . (150,000) (100,000) Expenses . . 110,000 75,000 Subsidiary Income . (20,000) Dividends Declared. 5,000 Totals 0 0 1. Prepare a determination and distribution of excess schedule (a value analysis is not needed) for the investment. 2. Prepare all the eliminations and adjustments that would be made on the 2011 consolidated worksheet. 3. Prepare the 2011 consolidated income statement and its related income distribution schedules. 4. Prepare the 201 1 statement of retained earnings. 5. Prepare the 201 1 consolidated balance sheet