$-0- D) $380,000 6. On December 31, 20 16, Paxton Company issued 20,000 shares of its common stock with a fair value of $20 per share for all of the outstanding common shares of Sonoma Company. Stock issuance costs of $2,500 and direct costs of $5,000 were paid What amount was debited to Equity Investment at date of acquisition? A) $405,000 B $402,500 C) $400,000 D) $407,500 7. Which of the following is the correct entry on a parent's pre-consolidation books to recognize amortization of a previously unrecorded patent acquired in a business combination? A) Equity Income B) Amortization Expense C) Equity Investment Equity Investment Patent Equity Income