ON JANUARY 1,2013, HIRAM CORPORATION ACQUIRED ALL THE OUTSTANDING STOCK OF TERRRIER COMPANY, BY ISSUING 9000 SHARES OF ITS $30 PAR VALUE COMMON STOCK....

AT THE ACQUISITION DATE, THE STOCK WAS TRADING AT $50 PER SHARE.  ADDITIONALLY.HIRAM PAID $10,000 TO SANDLER O'NEAL TO REPRESENT  YOUR ANANLYSIS OF TERRIER'S ASSETS AND  TERRIER PREPARE THE JOURNAL ENTRY TO RECORD THE ABOVE PURCHASE, IF YOU DECIDE TO KEEP TERRIER AS A SEPARATE ENTITY.      DETERMINE THE AMOUNT OF THE EXCESS PURCHASE PRICE AND HOW THE EXCESS IS ALLOCATED NET INCOME $230,000 $150,000 TOTAL ASSETS $2,900,000 $975,000 TOTAL LIABILITIES AND EQUITY $2,900,000 $975,000 HOW DO YOU KNOW?