Here Is Date-Of-Acquisition Information on Fizzy Beverage's Assets and Liabilities

Here is date-of-acquisition information on Fizzy Beverage's assets and liabilities:
$$\begin{array} { | l | c | c | } \hline & \text { B ook Value } & \text { Fair Value } \\\hline \text { Current assets } & \$ 2,000 & \$ 1,200 \\\hline \text { Property, plant and equipment, net } & 18,000 & 8,000 \\\hline \text { Total assets } & \$ 20,000 & \\\hline & & \\\hline \text { Liabilities } & \$ 10,000 & 10,000 \\\hline \text { Capital stock } & 2,500 & \\\hline \text { Retained earnings } & 7,400 & \\\hline \begin{array} { l } \text { Accumulated other comprehensive } \\\text { income }\end{array} & 300 & \\\hline \text { Treasury stock } & \$ 200 & \\\hline \text { Total liabilities and equity } & \$ 20,000 & \\\hline\end{array}$$ Cola King Company acquires all of the voting stock of Fizzy Beverage, paying the following amounts:
$\begin{array}{|l|r|}\hline \text { Cash consideration to the former owners } & \$ 40,000 \\\hline \text { Fair value of new no-par common stock issued } & 50,000 \\\hline \text { Registration fees on new stock issued, paid in cash } & 500 \\\hline \text { Acco unting, consulting, and attorney services, paid in cash } & 2,000 \\\hline\end{array}$

Fizzy has the following previously unreported intangible assets meeting the criteria for separate recognition as identifiable intangible assets.

$\begin{array}{|l|r|}\hline \text { Favorable lease agreements } & \$ 3,000 \\\hline \text { Developed technology } & 30,000 \\\hline\end{array}$
Warranty liabilities, previously unreported by Fizzy, are valued at $8,000. In addition, the acquisition creates deferred tax liabilities valued at $4,500.
Required a. Prepare the entry Cola King made to record the acquisition on its own books.
b. Prepare a schedule calculating the excess paid over book value and its allocation to Fizzy's identifiable assets and liabilities and goodwill.
c. The consolidation working paper immediately following the date of acquisition, in trial balance format, appears below. Fill in the two eliminating entries necessary to consolidate Cola King and Fizzy, in the dr and cr columns. Label the entries as (E) and (R). Compute the consolidated balances and enter them on the working paper. Do not add new account titles to this working paper.