E2.9

Please explain any calculations needed.

E2.9 Acquisition Cost Potluck Corp. acquired all of the net assets of Sauers Corp. on June 30. 2019, in an acquisition reported as a merger. The fair values of Sauers Corp.'s identifiable net assets at the date of acquisition are as follows: $25,000,000 90,000,000 55,000,000 Tangible assets.. . . Potluck pays $100 million in cash and issues 1,500,000 shares of stock to the former owners of Sauers. Potluck's stock has a par value of $1/share. The market price of the shares at the date of acquisition, $40/ sulting fees connected with the acquisition are $900,000, both paid in cash. Required Record the acquisition on June 30, 2019 the shares issued. Registration fees for the stock are $750,000, and legal and con