100% purchase, bargain, elimination entries only. On March 1, 2015, Carlson Enterprises purchases a 100% interest in Entro Corporation for $400,000. Entro Corporation has the following balance sheet...

100% purchase, bargain, elimination entries only. On March 1, 2015, Carlson Enterprises purchases a 100% interest in Entro Corporation for $400,000. Entro Corporation has the following balance sheet on February 28, 2015:

1. Record the investment in Entro Corporation.

2. Prepare the value analysis and the determination and distribution of excess schedule.

3. Prepare the elimination entries that would be made on a consolidated worksheet prepared on the date of acquisition.