On January 1, 2023, Parent Company Inc. acquired 100% of Subsidiary Corp.'s outstanding common stock by exchanging 37,500 shares of Parent's $2 par value common voting stock. On January 1, 2023, Parent's voting common stock had a fair value of $40 per share. On January 1, 2023, Subsidiary Corp.'s voting common shares were selling for $6.50 per share. Subsidiary Corp.'s balances on the acquisition date, just prior to acquisition are listed below Required: Present the analysis of this combinations, compute the value of Goodwill resulting from the acquisition and prepare the journal entries of acquisition