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i need answers 5. On January 1, 2019, Robles Co. issued 10,000 shares of its own $10 par value common stock for 8,000 shares of

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5. On January 1, 2019, Robles Co. issued 10,000 shares of its own $10 par value common stock for 8,000 shares of the outstanding stock of Ramos Co. in an acquisition. Robles Co. common stock at January 1, 2019 was selling at $80 per share. Just before the business combination, balance sheet information of the two corporations was as follows: Robles Book Value Cash Inventories Other current assets Land Plant and equipment-net $25,000 55,000 110,000 100,000 660,000 $950,000 Ramos Book Value $12,000 32,000 90,000 30,000 250,000 $414,000 Ramos Fair Value $12,000 36,000 110,000 90,000 375,000 $623,000 $50,000 Liabilities Capital stock, $10 par value Additional paid-in capital Retained earnings $220,000 500,000 170,000 60,000 $950,000 $50,000 100,000 40,000 224,000 $414,000 Required: 1. Prepare the journal entry on Robles Corporation's books to account for the Investment in Ramos. 2. Prepare the analysis of the combination Robles and Ramos Corporations. 3. Prepare a working paper for consolidated balance sheet for Robles Corporation and Subsidiary immediately after the business combination

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