Reverse acquisition On January 1, 2016, the shareholders of Unknown Company request 6,000 Famous shares in exchange for all of their 5,000 shares. This is an exchange ratio of 1.2 to 1. The fair value...

Reverse acquisition On January 1, 2016, the shareholders of Unknown Company request 6,000 Famous shares in exchange for all of their 5,000 shares. This is an exchange ratio of 1.2 to 1. The fair value of a share of Famous Company is $60. The acquisition occurs when the two companies have the following balance sheets:

1. Prepare an appropriate value analysis and a determination and distribution of excess schedule.

2. Complete a consolidated worksheet for Unknown Company and its subsidiary, Famous Company, as of January 1, 2016.