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a. Assume that this combination is a statutory merger so that On-the-Go's accounts will be transferred to the records of NewTune. the-Go will be dissolved

image text in transcribedimage text in transcribed a. Assume that this combination is a statutory merger so that On-the-Go's accounts will be transferred to the records of NewTune. the-Go will be dissolved and will no longer exist as a legal entity. Prepare a postcombination balance sheet for NewTune as of the acquisition date. b. Assume that no dissolution takes place in connection with this combination. Rather, both companies retain their separate legal identities. Prepare a worksheet to consolidate the two companies as of the combination date. Complete this question by entering your answers in the tabs below. Assume that this combination is a statutory merger so that On-the-Go's accounts will be transferred to the records of NewTune. On-the-Go will be dissolved and will no longer exist as a legal entity. Prepare a postcombination balance sheet for NewTune as of the acquisition date. Note: Input all amounts as positive values. Dn January 1, NewTune Company exchanges 17,360 shares of its common stock for all of the outstanding shares of On-the-Go, ncorporated. Each of NewTune's shares has a $4 par value and a $50 fair value. The fair value of the stock exchanged in the acquisition was considered equal to On-the-Go's fair value. NewTune also paid $44,650 in stock registration and issuance costs in connection with the merger. Several of On-the-Go's accounts' fair values differ from their book values on this date (credit balances in parentheses): Precombination book values for the two companies are as follows: Required: a. Assume that this combination is a statutory merger so that On-the-Go's accounts will be transferred to the records of NewTune. Onthe-Go will be dissolved and will no longer exist as a legal entity. Prepare a postcombination balance sheet for NewTune as of the

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