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Assume that the following balance sheets are stated at book value. Text Suppose that Meat Company purchases Loaf, Incorporated. The fair market value of Loaf's

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Assume that the following balance sheets are stated at book value. Text Suppose that Meat Company purchases Loaf, Incorporated. The fair market value of Loaf's fixed assets is $25,710 versus the $15,810 book value shown. Meat pays $37,110 for Loaf and raises the needed funds through an issue of long-term debt. Construct the postmerger balance sheet under the purchase method of accounting. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

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