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10 Kiki Company purchased 100% of Solitude Inc. for $3,500,000 of cash. Below are the identified assets and liabilities of Solitude Inc. Accounts Cash Accounts
10 Kiki Company purchased 100% of Solitude Inc. for $3,500,000 of cash. Below are the identified assets and liabilities of Solitude Inc. Accounts Cash Accounts Receivable Book Value $900,000 $70,000 Plant, Property, and Equipment $1,000,000 Fair Value $900,000 $70,000 $1,800,000 Accounts Payable Long Term Debt $40,000 $200,000 $40,000 $200,000 2 pts How much did Kiki Company's total assets increase or decrease by after the transaction to purchase Solitude? (If total assets increase, just write the amount. If total assets decrease, write a - then the amount.)
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