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Assume that the following balance sheets are stated at book value. The fair market value of Loaf's fixed assets is equal to $ 1 0

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Assume that the following balance sheets are stated at book value. The fair market value of Loaf's fixed assets is equal to $10,100. Meat pays $16,960 for Loaf and raises the needed funds through an issue of long-term debt.
\table[[Meat Company],[Current assets,$12,600,Current liabilities,$5,620
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