12. O'Rourke Corporation purchased all of the outstanding stock of Beto Inc, paying $3,120,000 cash. O'Rourke Corporation assumed all of the liabilities of Beto Inc. Book values and fair values of acquired assets and liabilities were Current assets (net) Property, plant, & equip. (net) Liabilities Fair Valus $540,000 $2,700,000 O'Rourke recorded goodwill of 5600,000. What was the fair value of the liabilities O'Rourke acquired from Beto? A. 5480,000. D, $720,000 C. S4,080,000). D. $5,760,000, . None of the above 13. Noncash acquisitions include acquisitions of assets by A. Issuing debt. B. Issuing equity C. Receiving donated assets D. Exchanging assets L. All of the above. 14. On August 1,2018, Juarez Corporation adopted a plan to discontinue its catalog sales division, which qualifles as a separate component of the business according to GAAP reganding discontinued operations. The disposal of the division was expected to be concluded by June 30, 2019.On January 3i, 2019, Juarez's fiscal year-end, the following information relative to the discontinued division was provided Operating loss Feb, 1, 2018 to Jan. 31, 2019 Estimated operating losses, Feb. I to June 30, 2019 Excess of book value over fair value less cost to sell of assets at Jan. 31, 2019 $400,000 100,000 0,000 Juarez's income tax rate is 35%. In its income statement for the year ended January 31, 2019, Juarez would report income (loss) on discontinued operations of A. $299,000 B. $(221,000), C. $221,000. D. 5(621,000). E5(299,000)