please show work

Question 10 (20 points) On January 1, 2020, Alpha Company acquired 80% of the outstanding stock of Lima Company for $150,000. On that date, Lima Company reported the following balance sheet data: . Account Book Value Fair Value Current Assets $50,000 $50,000 Fixed Assets $125,000 $175,000 Current Liabilities $30,000 $30,000 Long-term Liabilities $70,000 $70,000 Common Stock $20,000 APIC $30,000 Retained Earnings $25,000 Assume that fixed assets are depreciated using straight line depreciation and have a 5 year life. 2020 and 2021 operating information for Lima Company is reported below: 2020 2021 2020 and 2021 operating information for Lima Company is reported below: Lima Net Income: Lima Dividends 2020 $80,000 $30,000 2021 $110,000 $10,000 NOTE: THERE ARE NO INTERCOMPANY INVENTORY TRANSACTIONS ON THIS PROBLEM! REQUIRED: 1. Prepare a value analysis for this acquisition. 2. Prepare a D&D Schedule for this acquisition 3. Prepare the 2020 PARENT COMPANY entries under the SIMPLE EQUITY METHOD 4. Prepare the 2020 ELIMINATING (CONSOLIDATING) ENTRIES, assuming that the simple equity method was used by the parent company. under the SIMPLE EQUITY 4. Prepare the 2020 ELIMINATING (CONSOLIDATING) ENTRIES, assuming that the simple equity method was used by the parent company. 5. Prepare the 2021 PARENT COMPANY entries under the SIMPLE EQUITY METHOD. 6. Prepare the 2021 ELIMINATING (CONSOLIDATING) ENTRIES assuming that the simple equity method was used by the parent company