Consider the following premerger information about Firm X and Firm Y:

Firm X Firm Y

Total earnings $ 83,000 $ 16,000

Shares outstanding 40,000 15,000

Per-share values:

Market $ 55 $ 20

Book $ 17 $ 10

Assume that Firm X acquires Firm Y by paying cash for all the shares outstanding at a merger premium of $6 per share, and that neither firm has any debt before or after the merger.

List the assets of the combined firm assuming the purchase accounting method is used.

Assets from X $

Assets from Y

Goodwill

Total Assets XY $