1. (10 marks) ABC purchased 100% of the shares of XYZ for $4,000,000. Total Assets Total Liabilities Shareholder's Equity XYZ $4,500,000 $1,000,000 $3,500,000 Total Liabilities and Shareholder's Equity $4,500,000 a) It is known that the fair value of XYZ total assets is $4,800,000. What is the fair value of XYZ's net assets? What is the value of goodwill generated as a result of the acquisition? b) Using push-down accounting (i.e. XYZ's financial statements should reflect the actual purchase price), provide the consolidated balance sheet of the post- merger company.