Expenses 2,760 620 Assume a business combination took place at December 31, 2012. Atwood issued 50,000 shares of its common stock with a fair value of $40 per share for all of the outstanding common shares of Franz. Stock issuance costs of $20 (in thousands) and accounting and legal costs of $20 (in thousands) were paid to effect this acquisition transaction. To settle a difference of opinion regarding Franz's fair value, Atwood promises to pay an additional $30 (in thousands) to the former owners if Franz's earnings exceed a certain sum during the next year. Given the probability of the required contingency payment and utilizing a 4% discount rate, the expected present value of the contingency is $12 (in thousands). As an accountant, you need to calculate the following amounts in order to record the transaction correctly. Show all your work. Investment to be recorded at date of acquisition Consolidated inventory at date of acquisition. Consolidated land at date of acquisition Consolidated buildings (net) at date of acquisition Consolidated goodwill at date of acquisition. Consolidated equipment at date of acquisition. Consolidated retained earnings as a result of this acquisition Consolidated revenues at date of acquisition. Consolidated expenses at date of acquisition. Consolidated cash upon completion of the acquisition. ***Use Table Function*** Close Window Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers