Consolidated Statement of Financial Position}

Maple Corporation acquired \(100 \%\) of the outstanding common shares of Suncore Company in a business combination. Immediately before the business combination, the two businesses had the following statements of financial position:

Maple agreed to give Suncore's shareholders \(\$ 1,500\) cash in exchange for all their Suncore common shares. Suncore's equipment has a fair value of \(\$ 1,100\).
\section*{Required:}
1. Prepare the entries for Maple and Suncore to record the business combination.
2. Prepare the statement of financial position of Maple immediately after the business combination.
3. Prepare the statement of financial position of Suncore immediately after the business combination.
4. Calculate the amount of any goodwill.
5. Prepare a consolidated statement of financial position immediately after the combination.
\section*{OBJECTIVE (4) Exercise

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Maple Cash Equipment (net) $ 3,100 9,500 Suncore Cash Equipment (net) $ 180 930 Total assets $12,600 Total assets $1,110 Common shares 9,100 Common shares 700 Retained earnings 3,500 Retained earnings 410 Total liabilities & equity $12,600 Total liabilities & equity $1,110