Problem 3-10 (LO 3, 5) 100%, cost method worksheet, several adjustments, third year. Refer to the preceding information for Paulcraft's acquisition of Switzer's common stock. Assume that Paulcraft pays $480,000 for 100% of Switzer common stock. Paulcraft uses the cost method to account for its investment in Switzer. Paulcraft and Switzer have the follow- ing trial balances on December 31, 2017 as shown on page 191. Cash Switzer 110,000 55,000 86,000 60,000 Paulcraft 100,000 90,000 120,000 100,000 480,000 800,000 (220,000) 150,000 190,000) (60,000) Accounts Receivable Inventory Land Investment in Switzer. Buildings Accumulated Depreciation Equipment Accumulated Depreciation Current Liabilities Bonds Payable. Common Stock Paid-in Capital in Excess of Par Retained Earnings, January 1, 2017.... Sales Cost of Goods Sold Depreciation Expense_Buildings Depreciation Expense-Equipment. Other Expenses Interest Expense. Dividend Income Dividends Declared Totals... (100,000) 1900,000) (315,000) (800,000) 450,000 30,000 15,000 140,000 250,000 (80,000) 100,000 172,000) (102,000) (100,000) (10,000) 190,000) (182,000) (350,000) 210,000 15,000 14,000 68,000 8,000 (10,000) 20,000 0 10,000 0 1. Prepare a value analysis and a determination and distribution of excess schedule for the investment in Switzer, 2. Complete a consolidated worksheet for Paulcraft Corporation and its subsidiary Switzer Corporation as of December 31, 2017. Prepare supporting amortization and income distri- bution schedules