On December 31, 2010. Arturo, Inc. od 100 percent of the voting stock of Westmont Company, Arturo wil maintain Westmont as a wholly owned subsidiary with its own legni and accounting identity, Arturo Innued 5120,000 in long-term labies and 90.000 common shares having par value of $4 per share but a fair value of $25 per share Immediately prior to the acquisition, the following data for both firms were available Westment Westment Arturo Book Values Fair Values Revenues ${1,200,000) 650.000) Expenses 875.000 425.000 Net income $325.000) (225.000) Retained emings. 111/10 950.000) (260.000) Net income (325,000 (225.000) Dividend paid 30,000 50.000 Retained earnings 12/31/19 $1,185,000) 5435.000) Cash $110.000 $85.000 585,000 Receive and inwentary 750,000 110,000 150,000 Property, plant and equipment 1.400,000 450,000 550.000 Trademar 300,000 100,000 240.000 Total assets $2.500,000 5 885.000 Liabetes 31500,000) $180,000) (185,000) Common stock 1400.000) (200,000) Additional prin capital 475.000 (70.000) Retained earrings (1.185,000 (435.000) Total Babies and equities (2.560,000) (885.000) In addition, Arturo essed a research and development project under way at Westmont to have a far value of $180,000 Although not yet recorded on its books Pacifica paid $10.500 to towyers, accountants and brokers for assistant in the acquisition and another 525 800 in connection with stock issuance costs Required: What are the consolidated balances for the following accounts? Net income Property, plant and equipment Goodwill Additional paid in capital For the pres ALTRO AT On December 31, 2010. Arturo, Inc. od 100 percent of the voting stock of Westmont Company, Arturo wil maintain Westmont as a wholly owned subsidiary with its own legni and accounting identity, Arturo Innued 5120,000 in long-term labies and 90.000 common shares having par value of $4 per share but a fair value of $25 per share Immediately prior to the acquisition, the following data for both firms were available Westment Westment Arturo Book Values Fair Values Revenues ${1,200,000) 650.000) Expenses 875.000 425.000 Net income $325.000) (225.000) Retained emings. 111/10 950.000) (260.000) Net income (325,000 (225.000) Dividend paid 30,000 50.000 Retained earnings 12/31/19 $1,185,000) 5435.000) Cash $110.000 $85.000 585,000 Receive and inwentary 750,000 110,000 150,000 Property, plant and equipment 1.400,000 450,000 550.000 Trademar 300,000 100,000 240.000 Total assets $2.500,000 5 885.000 Liabetes 31500,000) $180,000) (185,000) Common stock 1400.000) (200,000) Additional prin capital 475.000 (70.000) Retained earrings (1.185,000 (435.000) Total Babies and equities (2.560,000) (885.000) In addition, Arturo essed a research and development project under way at Westmont to have a far value of $180,000 Although not yet recorded on its books Pacifica paid $10.500 to towyers, accountants and brokers for assistant in the acquisition and another 525 800 in connection with stock issuance costs Required: What are the consolidated balances for the following accounts? Net income Property, plant and equipment Goodwill Additional paid in capital For the pres ALTRO AT
