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On January 1 , 2 0 2 2 , Hope Company acquired Glory, Inc. by issuing 6 0 , 0 0 0 shares of its
On January Hope Company acquired Glory, Inc. by issuing shares of its common stock with a market value of $ per share. Equipment on Glory's books was undervalued by $ resulting in annual amortization of $ Also, there was an unrecorded customer list valued at $ resulting in annual amortization of $; as well as a year franchise agreement valued at $ The separate financial statements for Hope and Glory follow.
Hope Co Glory, Inc.
Sales revenue $ $
Cost of goods sold
Gross profit
Operating expenses
Equity income
Net Income $ $
Retained Earnings, $ $
Net income
Dividends
Retained Earnings, $ $
Cash and receivables $ $
Inventory
Equity investment
Property, plant & equipment Net
Total Assets $ $
Accounts payable $ $
Accrued liabilities
Notes payable
Common stock
Additional paidin capital
Retained Earnings,
Total Liabilities and Equities $ $
Required: At what amount will each of the following be presented on consolidated financial statements for
a Consolidated net income
b Cash and receivables
c Equity investment
d Property, plant and equipment net
e Goodwill
f Common stock
g Additional paidin capital
h Retained earnings
i Total intangible assets
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