pls explain with steps the one on right is sour the left is cottage

With a cash payment of $15 million and by issuing 500,000 shares of their own $1 par value common stock, Sour Company acquired a 100% of the outstanding common stock of Cottage, Inc. At the acquisition date, 1/1/20x0, Sour Company's common stock had a market value of $8/share. At the time of the acquisition, the book value of Cottage's net assets was $16,970,000. There was no control premium in this transaction. Any amount of the acquisition price paid in excess of the fair value of the net assets acquired is assigned to goodwill. At 1/1/20x0, Cottage, Inc. prepared the following analysis of the book value vs. the fair value of their non-current assets: Book Fair Remaining Value Value Useful Life Land $1,700,000 $2,550,000 Buildings 2,700,000 3,400,000 Equipment 3,700,000 3,300,000 7 years 5 years Sour Company uses the equity method to account for the acquisition of Cottage, Inc. and, after the acquisition, Cottage, Inc. will be a separate operating subsidiary of Sour Company. Required: A. Prepare the journal entry to record Sour Company's investment in Cottage, Inc. @1/1/20x0. B. Prepare a schedule showing the allocation of the purchase price to the net assets acquired. In your schedule include the estimated useful lives and annual amortizations for fair value adjustments to specific net assets acquired. C. Prepare a schedule showing the change in Sour Company's Investment in Cottage, Inc. account from the acquisition date, i.e., 1/1/20x0, to 12/31/20x0. Revenues 298,000,000 271,000,000 103,750,000 95,800,000 Expenses 0 Equity in income of Scalibrini, Inc. Net income 8,000,000 35,000,000 7,950,000 Retained earnings, January 1, 20x0 Net income (above) Dividends paid Retained earnings, December 31, 20x0 2,300,000 35,000,000 4,800,000 100,000 7,950,000 3,000,000 32,500,000 5,050,000 20,800,000 Current Assets Investment in Scalibrini, Inc. Land 24,850,500 22,450,000 1,500,000 5,600,000 3,100,000 1,700,000 2,360,000 2,960,000 Buildings Equipment (net) Goodwill Total assets 57,500,500 27,820,000 3,100,000 Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings, Dec. 31, 20x0 (above) Total liabilities and stockholders' equity 4,900,000 1,000,000 6,000,000 10,870,000 2,900,000 19,000,000 32,500,000 5,050,000 57,500,000 27,820,000