A m esed: 7 minutes, 17 seconds Question Completion Status: Atach File Browse My Compu QUESTION 4 Sully Company's anuary 1, 2020 balance sheet is as follows: Current Babes Long-term liabilities Capital stock 1.000.000 Equity method investments Land, buildings & 6.500.000 2.000.000 5.500.000 1.500.000 Retained earnings Accumulated other comprehensive loss 400.000 100.000 $13.500.000 Total liabilities & equity $13.500.000 On January 1, 2020, Pronto Corporation acquired Sully's assets and liabilities for $10 million in cash. $ 35 million market value in stock (100,000 shares whose par value was $10 per share) and a carnout ability of $ 5 milion Attorney and bankers' fees were $ 500,000, while stock registration fees were $ 400,000. Sully's cash and receivables, and current liabilities were reported at values approximating fair value. However, its inventories were overvalued by $2.000.000, and its equity method investments were undervalued by $3,000,000. Island, buildings & equipment were overvalued by $2,500,000, and its long term liabilities were undervalued by $500,000. The accountants identified the following posible intangible assets attributed to Sully but not currently recorded on its balance sheet: cloped technology Required Provide the many Pront makes to record the merger Pronto ad acquired 100% of the stock of suy how would your journal any change? Allah My Computer Browse Content Coco Chek Suwand Submit to well to wall an A m esed: 7 minutes, 17 seconds Question Completion Status: Atach File Browse My Compu QUESTION 4 Sully Company's anuary 1, 2020 balance sheet is as follows: Current Babes Long-term liabilities Capital stock 1.000.000 Equity method investments Land, buildings & 6.500.000 2.000.000 5.500.000 1.500.000 Retained earnings Accumulated other comprehensive loss 400.000 100.000 $13.500.000 Total liabilities & equity $13.500.000 On January 1, 2020, Pronto Corporation acquired Sully's assets and liabilities for $10 million in cash. $ 35 million market value in stock (100,000 shares whose par value was $10 per share) and a carnout ability of $ 5 milion Attorney and bankers' fees were $ 500,000, while stock registration fees were $ 400,000. Sully's cash and receivables, and current liabilities were reported at values approximating fair value. However, its inventories were overvalued by $2.000.000, and its equity method investments were undervalued by $3,000,000. Island, buildings & equipment were overvalued by $2,500,000, and its long term liabilities were undervalued by $500,000. The accountants identified the following posible intangible assets attributed to Sully but not currently recorded on its balance sheet: cloped technology Required Provide the many Pront makes to record the merger Pronto ad acquired 100% of the stock of suy how would your journal any change? Allah My Computer Browse Content Coco Chek Suwand Submit to well to wall an