Arcadia, Incorporated, acquired $100$ percent of the voting shares of Bruno Company on January $1,2023.$ In exchange, Arcadia paid $$198,000$ in cash and issued $100,000$ shares of its own $$1$ par value common stock. On this date, Arcadia's stock had a fair value of $$15$ per share. The combination is a statutory merger with Bruno subsequently dissolved as a legal corporation. Bruno$$s assets and liabilities are assigned to a new reporting unit.