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ANSWER ALL PROBLEMS RELATED TO THE QUESTION! 2. Bale Co. acquired Silo Inc. on December 31, 2013, in an acquisition business combination transaction. Bale's net
ANSWER ALL PROBLEMS RELATED TO THE QUESTION!
2. Bale Co. acquired Silo Inc. on December 31, 2013, in an acquisition business combination transaction. Bale's net income for the year was $1,400,000, while Silo had net income of $400.000 earned evenly during the year. Bale paid $100.000 in direct combination costs, $50,000 in indirect costs, and $30,000 in stock issue costs to effect the combination. Required: What is consolidated net income for 2013? Show all work to receive credit. (10 points) 3. Hanson Co. acquired all of the common stock of Roberts Inc. on January 1, 2017, transferring consideration in an amount slightly more than the fair value of Roberts' net assets. At that time, Roberts had buildings with a twenty-year useful life, a book value of $600,000, and a fair value of $696,000. On December 31, 2018, Roberts had buildings with a book value of $570,000 and a fair value of $648,000. On that date, Hanson had buildings with a book value of $1,878,000 and a fair value of $2.160.000. What amount should be shown for buildings on the consolidated balance sheet dated December 31, 2018? Show all work to receive credit (10 points)
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