On December 31, 20X6, the statements of financial position of the Power Company and the Pro Company are as follows: (in 000s) (FV) Cash Accounts receivable Inventories Property, plant, and equipment (net) Total assets Power $ 500 1,500 2,000 2,500 $6,500 Pro $ 800 1,700 1,500 4,000 $8,000 $4,300 $ 700 800 $ 550 Current liabilities Long-term liabilities Common shares Contributed surplus Retained earnings Total liabilities and equities 2,500 800 1,700 $6,500 $ 400 500 1,000 1,500 4,600 $8,000 Power Company has 100,000 shares of common stock outstanding. Pro Company has 45,000 shares outstanding. On January 1, 20X7, Power issued an additional 90,000 shares of common stock in exchange for all the outstanding shares of Pro. All assets and liabilities have book values equal to fair values, except as noted above. In addition, Pro has a patent that has an appraised fair value of $450. Market value of the new shares issued was $95 per share at the date of acquisition. Required: A. What is the amount of goodwill to be recorded for this business combination? B. Prepare the journal entry that Power would record on January 1, 20X7, related to this acquisition. C. Prepare the consolidated statement of financial position at January 1, 20x7