1. Cornflake Corp. Penguin, Inc. acquires 100% of the outstanding shares of Cornflake Corp. for $2,250,000 and accounts for the transaction using the purchase method. Cornflake's balance sheet at the acquisition date is as follows: Cornflake, Corp. Balance Sheet Acquisition Date Historical Cost Current Market Value Assets Current Assets Depreciable Assets less Accumulated Depreciation Goodwill Total Assets $ 900,000 $ 875,000 $ 900,000 $1,250,000 $1,775,000 Liabilities and Equities Liabilities Deferred Income Tax Liability Shareholders' Equity Total Liabilities and Equities $1,100,000 $ 125,000 $1,100,000 $ 125,000 $ 550,000 $1,775,000 A. Based on the information concerning Cornflake Corp. what is the market value of the company's shareholders' equity at the acquisition date? B. Based on the information concerning Cornflake Corp. what is the value of the goodwill related to the acquisition? C. Based on the information concerning Cornflake Corp. by what amount would Penguin increase depreciable assets when it consolidates Cornflake on the acquisition date