1) Presented below are the balance sheets of Allen Corporation and Benson Corporation, immediately prior to a business combination. The fair values of Bensons reported net assets equal their book values, and previously unreported identifiable intangible assets have a fair value of $200,000.

Please help with the last part of the Post-Combination Balance Sheet!

Post-Combination Balance Sheet: Merger and Stock Acquisition Presented below are the balance sheets of Allen Corporation and Benson Corporation, immediately prior to a business combination. The fair values of Benson's reported net assets equal their book values, and previously unreported identifiable intangible assets have a fair value of $200,000, Allen Corp. Benson Corp. Cash $1,000,000 $ 50,000 other current assets 600.000 150,000 Property, plant and equipment 1,200,000 400,000 Total assets $2,800,000 $ $600,000 Current liabilities $300,000 $100,000 Long-term liabilities 600,000 250,000 Common stock 200,000 100,000 Additional paid-in capital 900,000 50,000 Retained earnings 800,000 Total liabilities and equity $2,800,000 $ $600,000 100.000 Required Prepare the acquisition entry and the balance sheet of Allen Corporation after the following business combination: (1) Allen acquires Benson for $800,000 cash in a transaction recorded as a merger. Not all drop-down answers may be required for the journal entry. If an account is not required, select "N/A" as your answer. Description Debit Credit Cash 50,000 Other current assets 150,000 Property, plant and equipment 400,000 Identifiable intangibles 200,000 Goodwill 350,000 0 Current liabilities 100,000 Long-term liabilities 250,000 Cash 0 800,000 e . Prepare the acquisition entry and the balance sheet of Allen Corporation after the following business combination: (2) Allen acquires Benson for $800,000 cash in a transaction recorded as a stock acquisition. Not all drop-down answers may be required for the journal entry. If an account is not required, select "N/A" as your answer, Description Debit Credit Investment in Benson 800,000 0 N/A + 0 N/A 0 N/A 0 N/A N/A N/A Cash 800,000 $ Not all accounts listed will have a balance. If a balance isn't required, leave answer field blank (or enter zero). Allen Corp. Post-Combination Balance Sheet Cash 0X Other current assets OX Property plant and equipment Investment in Benson Identifiable intangibles Goodwill 0 $ 0X S Current liabilities Long-term liabilities Common stock Additional pald-in capital Retained earnings OX OX 0X 0X S OX