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Balance Sheet after Business Acquisition Wilson Corporation acquires Greatbatch Company for $80 million cash in a merger. The balance sheets of both companies at the

image text in transcribedimage text in transcribed Balance Sheet after Business Acquisition Wilson Corporation acquires Greatbatch Company for $80 million cash in a merger. The balance sheets of both companies at the date of acquisition are as follows: Balance Sheet (in millions) Wilson Greatbatch Current assets $96 $8 Property and equipment 800 144 Intangibles 32 4.8 Total assets $928 $156.8 Current liabilities $40 $3.2 Long-term debt 640 104 Capital stock 80 19.2 Retained earnings 192 24 Accumulated other comprehensive income (loss) Total liabilities and equity (24) $928 6.4 $156.8 Greatbatch's property and equipment is overvalued by $48 million, its reported intangibles are undervalued by $32 million, and it has unreported intangibles, in the form of customer databases and marketing agreements, valued at $11.2 million. Required Prepare Wilson's balance sheet immediately following the merger. Use a negative sign with your answer for AOCI if the balance is a loss. (in millions) Assets Current assets Property and equipment Intangibles Goodwill Wilson Corporation Balance Sheet Liabilities 0 Current liabilities 0 Long-term debt 0 Total liabilities 0 Equity $ 0 0 0 Capital stock 0 Retained earnings 0 Greatbatch's property and equipment is overvalued by $48 million, its reported intangibles are undervalued by $32 million, and it has unreported intangibles, in the form of customer databases and marketing agreements, valued at $11.2 million. Required Prepare Wilson's balance sheet immediately following the merger. Use a negative sign with your answer for AOCI if the balance is a loss. (in millions) Assets Current assets Property and equipment Intangibles Goodwill Wilson Corporation Balance Sheet Liabilities 0 Current liabilities 0 Long-term debt 0 Total liabilities 0 Equity Capital stock Retained earnings AOCI 0 0 0 0 0 0 Total assets $ 0 Total liabilities and equity $ 0 Total equity

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