Excel solution please

1. Calculating Synergy [LO3] Pearl, Inc., has offered $197 million cash for all of the common stock in Jam Corporation. Based on recent market information, Jam is worth $178 million as an independent operation. If the merger makes economic sense for Pearl, what is the minimum estimated value of the synergistic benefits from the merger?Example like this.

2. Balance Sheets for Mergers [LO2] Silver Enterprises has acquired All Gold Mining in a merger transaction. Construct the balance sheet for the new corporation if the merger is treated as a purchase of interests for accounting purposes. The following balance sheets represent the premerger book values for both firms:

   Silver Enterprises
   Current assets Other assets Net fixed assets Total	$7,400 2,080 23,910 $33,390	Current liabilities Long-term debt Equity Total	$4,030 10,600 18,760 $33,390

   All Gold Mining
   Current assets Other assets Net fixed assets Total	$2,080 880 9,620 $12,580	Current liabilities Long-term debt Equity Total	$2,070 0 10,510 $12,580

   The market value of All Gold Minings fixed assets is $12,100; the market values for current and other assets are the same as the book values. Assume that Silver Enterprises issues $20,800 in new long-term debt to finance the acquisition.

3. Calculating Synergy [LO3] Three Guys Burgers, Inc., has offered $15.3 million for all of the common stock in Two Guys Fries Corp. The current market capitalization of Two Guys as an independent company is $12.1 million. Assume the required return on the acquisition is 9 percent and the synergy from the acquisition is a perpetuity. What is the minimum annual synergy that Three Guys feels it will gain from the acquisition?

TABLE 26.1 Accounting for Acquisitions: Purchase (in Millions) Firm A Firm B Working capital $ 4 Equity $20 Working capital $ 2 Equity $10 Fixed assets 16 Fixed assets 8 Total $20 Total $20 Total $10 Total $10 Firm AB Working capital $6 Debt $18 Fixed assets 30 Equity 20 Goodwill 2 Total $38 Total $38