On January 1, 20X2. End Corporation acquired all of the assets and liabilities of Cork Corporation by issuing shares of its common stock in a business combination recorded as a purchase. Partial balance sheet data for the companies prior to the business combination and immediately following the combination are as follows:

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a. What number of shares did End Corporation issue to acquire the shares of Cork Corporation?

b. What was the market value of the shares issued by End Corporation?

c. What was the fair value of the inventory held by Cork Corporation at the date of combination?

d. What was the fair value of the net assets held by Cork Corporation at the date of combination?

e. What amount of goodwill, if any, will be reported by the combined entity immediately following the combination?

f. What balance in retained earnings will be reported by the combined entity immediately following the combination?
g. If the depreciable assets held by Cork Corporation had an average remaining life of 10 years at the date of acquisition, what amount of depreciation expense will be reported on those assets in 20X2?

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End Corp. Cork Corp. Combined Entity Cash Accounts Receivable Inventory Buildings & Equipment (net) Goodwill Total Assets Accounts Payable 300,000 Book Value $ 40,000 60.000 50.000 Book Value $ 10,000 30.000 35.000 110.000 $ 50,000 88,000 96,000 430,000 ? $450,000 $185.000 $ ? $ 32,000 $ 14.000 Bonds Payable 150,000 70,000 $ 46.000 220,000 Bond Premium 6.000 6,000 Common Stock. $5 par 100.000 40.000 126,000 Additional Paid-In Capital 65.000 28.000 247,000 Retained Earnings 97,000 33.000 ? Total Liabilities and Equities $450,000 $185.000 $ ?