Worksheet, blocks, control with first block. The following determination and distribution of excess schedule is prepared on January 1, 2012, the date on which Palmer Company purchases a 60% interest...

Worksheet, blocks, control with first block. The following determination and distribution of excess schedule is prepared on January 1, 2012, the date on which Palmer Company purchases a 60% interest in Sharon Company:

1. Prepare an analysis for the second purchase of Sharon stock by Palmer Company on December 31, 2013.

2. Prepare the worksheet necessary to produce the consolidated financial statements of Palmer Company and its subsidiary as of December 31, 2015. Include an income distribution schedule.