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Compute the consolidated revenues for 2021. Compute the consolidated receivables and inventory for 2021. Compute the consolidated buildings (net) account at December 31, 2021. Compute
Compute the consolidated revenues for 2021.
Compute the consolidated receivables and inventory for 2021.
Compute the consolidated buildings (net) account at December 31, 2021.
Compute the consideration transferred for this acquisition at December 31, 2021.
Compute the consolidated liabilities at December 31, 2021.
TB MC Qu. 02-32 The financial statements for Campbell, Inc., and... The financial statements for Campbell, Inc., and Newton Company for the year ended December 31, 2021, prior to the business combination whereby Campbell acquired Newton, are as follows (in thousands): Revenues Campbell $2,600 1,880 Newton $ 700 400 Expenses Net income $ 720 $ 300 Retained earnings, 1/1 Net income Dividends $2,400 $ 720 (270) $2,850 $ 500 300 0 800 $ 230 Retained earning, 12/31 Cash Receivables and inventory Buildings (net) Equipment (net) $ 240 1,200 2,700 2,100 $6,240 360 650 1,300 $2,540 Total assets $ 720 Liabilities Common stock Additional paid-in capital Retained earnings Total liabilities & stockholders' equity $1,500 1,080 810 2,850 $6,240 400 620 800 $2,540 On December 31, 2021, Campbell obtained a loan for $650 and used the proceeds, along with the transfer of 35 shares of its $10 par value common stock, in exchange for all of Newton's common stock. At the time of the transaction, Campbell's common stock had a fair value of $40 per share. In connection with the business combination, Campbell paid $25 to a broker for arranging the transaction and $30 in stock issuance costs. At the time of the transaction, Newton's equipment was actually worth $1,450 but its buildings were only valued at $590Step by Step Solution
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