1-38 (Algo) Incomplete Data Problem LO 1-5 On January 1, 20X2, Plend Corporation acquired all of Stork Corporation's assets and liabilities by issuing shares of its common stock. Partial balance sheet data for the companies prior to the business combination and immediately following the combination are as follows Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Goodwill Total Assets Liabilities and Equities Accounts Payable Bonds Payable Bond Premium Common Stock, $5 part Additional Paid-In Capital Retained Earnings Total Liabilities and Equities. Required: Plend Corporation Book Value Stork Corporation Book Value Combined Entity $ 60,000 $ 30,000 $ 90,000 80,000 70,000 50,000 128,000 320,000 55,000 130,000 136,000 470,000 $530,000 $ 265,000 $ 52,000 $ 34,000 $86,000 170,000 90,000 260,000 6,000 6,000 120,000 60,000 145,000 85,000 45,000 360,000 97,000 33,000 $530,000 $265,000 e. What number of shares did Plend issue to acquire Stork's assets and liabilities? b. What was the total market value of the shares issued by Plend? c. What was the fair value of the inventory held by Stork at the date of combination? d. What was the fair value of the identifiable net assets held by Stork at the date of combination? e. What amount of goodwill, if any, will be reported by the combined entity immediately following the combination? f. What balance in retained earnings will the combined entity report immediately following the combination? g. If the depreciable assets held by Stork had an average remaining life of 10 years at the date of acquisition, what amount of depreciation expense will be reported on those assets in 20X2? a. Number of shares b. Market value of shares c. Fair value of the inventory d. Fair value of the net asset e. Amount of goodwill f. Balance in retained earnings g Amount of depreciation expense