ACCT 434 Midterm 2 Winter 2020 Case B Refer to the Statement of Financial Position information. Ignore the facts provided in Case A. After close of business on December 31, 20x1 Big Inc. acquired 60% of the shares of Small Inc. by issuing 50,000 of its own shares. Assume that Big Inc. is the acquirer for consolidation purposes. Big Inc. incurred $30,000 in legal fees to complete the transaction and $25,000 for stock issuance costs. The legal fees and stock issuance costs were paid for in cash. Required: Determine the following balances to be reported on the Consolidated Statement of Financial Position under the Identifiable Net Assets approach at the date of acquisition (14 marks) (i) Goodwill (8 marks) (ii) Cash ( 2 markS) (iii) Common shares ( 2 marks) (iv) Retained earnings ( 1 mark) (v) Non-controlling interest ( 1 mark)