If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will be issuing 30,000 shares to CARDO and 12,000 shares to SYANO. The following is the balance sheet of PROMDI Co, followed by the fair values and additional unpaid costs incurred by PROMDI in the acquisition: PROMDI COMPANY Book Value Fair Value P1,450,000 P1,440,000 900,000 920,000 600,000 1,255,000 Book Value Fair Value Cash P1,500,000 P1,500,000 Accounts Payable Accounts Receivable 750,000 740,000 Mortgage Payable Inventory 355,000 340,000 Ordinary Shares Fixed Assets (Net) 1,600,000 1,520,000 Retained Earnings PROMDI Fair value of shares 30 Direct costs Indirect costs Stock issue costs REQUIREMENTS: A. Goodwill B. Consolidated Total Assets at the date of acquisition C. Consolidated Total Liabilities at the date of acquisition D. Consolidated Equity at the date of acquisition CARDO 28 50,000 35,000 155,000 SYANO 25 40,000 45,000 50,000 Cash Accounts Receivable Inventory Fixed Assets (Net) Book Value P450,000 200,000 595,000 250,000 Fair Value P440,000 220,000 Book Value Fair Value P500,000 P500,000 Accounts Payable 250,000 240,000 Mortgage Payable 155,000 200,000 Ordinary Shares 600,000 520,000 Retained Earnings SYANO COMPANY Book Value Fair Value P300,000 P300,000 Accounts Payable 150.000 160,000 Mortgage Payable 125,000 100,000 Ordinary Shares 400,000 420,000 Retained Earnings Book Value P350,000 200,000 250,000 175,000 Fair Value P340,000 220,000 Cash Accounts Receivable Inventory Fixed Assets (Net)