Bargain Purchase Sontag corporation's net assets have fair values as described below. The Pratt Company paps $2,800,000 for Sontag Corporation, and records the acquasibon as a merger. Pratt Company determines that identifiable intangibies valued at \$1, 200,000, not previously reported on sontags books, atso are recognised as acquired assets. Aeguired a. Prepare a schedule to calculate the gain on acquisition. Use a negative sign with anfy answer that reduces the fair value of net assets (jeft column coly). b. Prepure Pratts jouenal entry to record the merger. Not all doop-down answers may be required for the journal entry. it an account is not required, select "NA' as your answer. c. Now assume Pratt determines that Sontag Corporation has unreported contingent liabilities, reportable at the date of acquisition following GAAp, with a tair vaiue of \$0,000. Arcalculate th gain on acquision