1. Assume Glass Company purchased the net assets directly from Plastic Company for $530,000.00.

a. prepare the entry that Glass Company would make to record the purchase.

b. Prepare the balance sheet for Glass Company immediately following the purchase.

2. Assume that 100% of the outstanding stock of Plastic Company is purchased from the former stockholders for a total of $530,000.00

a. Prepare the entry that Glass Company would make to record the purchase.

b. State how the investment would appear on Glasss unconsolidated balance sheet prepared immediately after the purchase.

c. Indicate how the consolidated balance sheet would appear,