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Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc, on January 1 , 2 0 2 0 , in exchange for $
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc, on January in exchange for $ in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December fiscal yearends. At the acquisition date, Mathias's stockholders' equity was $ including retained earnings of $
At the acquisition date, Allison prepared the following fairvalue allocation schedule for its newly acquired subsidiary:
tabletableConsideration transferredMathias stockholders' equityExcess fair over book valueto unpatented technology year remaining lifeto patents year remaining lifeto increase longterm debt undervaluedyear remaining lifetable
No asset impairments have occurred since the acquisition date.
Individual financial statements for each company as of December follow. Parentheses indicate credit balances. Dividends declared were paid in the same period.
Required:
Total assets
tableTotal assets,$$
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