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Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts. On
Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts. On December 31, Padre acquires Sols outstanding stock by paying $137,000 in cash and issuing 17,700 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $25,400 as well as $9,900 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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