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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. Cash
Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts. Cash Receivables Inventory Land Building and equipment (net) Franchise agreements Accounts payable Accrued expenses Longterm liabilities Common stock-$20 par value Common stock-$5 par value Additional paid-in capital Retained earnings, 1/1 Prev $ Padre Company Sol Company Book Values Book Values Fair Values 12/31 12/31 115,250 54,400 240,750 353,000 440,000 286,000 680,000 163,000 835,000 294,000 313,000 229,000 (319,000) (147,000) (127,000) (30,000) (957,500) (597,500) (660,000) (70,000) (437,500) (210,000) (90,000) (284,000) $ 12/31 54,400 353,000 341,300 142,500 363,700 259,900 (147,000) (30,000) (597,500)
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