On January $1,2022,x$ acquired $100\%$ of the voting common stocks of $55000$ for Y$\text{'}$s stockholders. Also, X issued $70000$ common stocks of $$1$ par, $$4$ FMV$.$ Business combination costs $20000$ direct and $10000$ indirect costs.

The balance sheets of $x$ and $Y$ on the date of $BC$ are:

$\backslash$table$[[,$X at Cost,Y at cost$,$Y at the FMV$],[$Cash$,110000,60000,60000],[$Account Receivables,$70000,40000,35000],[$Inventory$,120000,50000,40000],[$Building$,200000,100000,140000],[$Equipment$,100000,50000,70000],[$Total Assets,$600000,300000,345000],[$Account Payable,$70000,30000,30000],[$Common Stocks,$320000,150000,],[$Paid$-$In$-$Capital,$80000,50000,],[$R$.$E$,130000,70000,],[$Total Liabilities and Stockholders' Equity,$600000,300000,]]$

Required:

$1-$ Complete the accounting procedures of business combination.

$2-$ Prepare consolidated balance sheet of Y after BC$.$