A primary beneficiary company has established control over a VIE by guaranteeing its long term debt and by establishing an income distribution contract. The balance sheet of the VIE on the acquisition...

A primary beneficiary company has established control over a VIE by guaranteeing its long term debt and by establishing an income distribution contract. The balance sheet of the VIE on the acquisition date was as follows:

The fair values of the land and buildings are $800,000. The fair value of the equipment is $400,000. The fair value of the company’s net (of debt) assets is estimated to be $600,000.

Prepare the distribution of excess schedule.