ADVANCE ACCOUNTING. NEED ANSWER FAST

The following information has been extracted from Pride Co, and Safola Co. on June 30, 2020. Pride Co. Safola Co. Safola Co. Book Value Fair Value Current assets $400,000 $80,000 $80,000 Patented technology 800,000 100,000 700,000 In-process research & Development 500,000 Liabilities (500,000) (400,000) (400,000) Common stock (300,000) (100,000) Additional paid-in capital (400,000) (300,000) Retained earnings, deficit 1/1 (200,000) 700,000 Revenues (1,000,000) (300,000) Expenses 600,000 220,000 Pride Co. obtained all the outstanding shares of Safola Co. on June 30 paying $70,000 cash and issuing debt for 900,000. Pride also agreed to pay $50,000 to an investr arrange the combination and paid $9,000 to its employees who helped with the business combination. Required: (3 points) 1. Allocate the consideration transferred among the assets acquired and liabilities assumed to show any goodwill or gain on bargain purchase. 2. Calculate consolidated: a. Patented technology b. Common stock. -c. Current assets. d. Liabilities. e. Expenses. For the toolbar press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI y s Paragraph Arial 14px TIT A