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Following are preacquisition financial balances for Padre Company and Sol Company as of December 3 1 . Also included are fair values for Sol Company
Following are preacquisition financial balances for Padre Company and Sol Company as of December Also included are fair values for Sol Company accounts.PadreCompanySol CompanyBook Values Book Values Fair ValuesCash $ $ Receivables Inventory Land Building and equipment netFranchise agreements Accounts payable Accrued expenses Longterm liabilities Common stock$ par value Common stock$ par value Additional paidin capital Retained earnings, Revenues Expenses Note: Parentheses indicate a credit balance.On December Padre acquires Sols outstanding stock by paying $ in cash and issuing shares of its own common stock with a fair value of $ per share. Padre paid legal and accounting fees of $ as well as $ in stock issuance costs.Determine the value that would be shown in Padres consolidated financial statements for each of the accounts listed. Input all amounts as positive values.
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