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Following are preacquisition financial balances for Padre Company and Sol Company as of December 3t. Also incluged are hai values for Sol Company accounts. Note:
Following are preacquisition financial balances for Padre Company and Sol Company as of December 3t. Also incluged are hai values for Sol Company accounts. Note: Parentheses indicate a credit balance. On December 31, Padre acquires Sol's outstanding stock by paying $322,000 in cash and issuing 1,700 shares of ts own comman stock with a fair value of $40 per share. Padre paid legal and accounting fees of $28,000 as welf as $10,800 in stack ssuance corss Determine the value that would be shown in Padre's consolidated financial statements for each of the accounts isted. Input alf omounts as positive values.) Following are preacquisition financial balances for Padre Company and Sol Compary as of December 31, Also included are fair values for Sol Compary accounts. Note Patentheses indicate a credit balance. On December 31, Padre acquires Sol's outstanding stock by paying $322.000 in cash and issuing 11,700 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $28,000 as well as $10,800 in stock issuance conts. Determine the value that would be shown in Padre's consolidated financial statements for each of the accounts listed. finput alf amounts as positive values.)
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