On January 1. Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano. Inc., in exchange for $31.25 per share cash. The remaining 20 percent of Soriano's shares continued to trade for $30 both before and after Patterson's acquisition. At January 1. Soriano's book and fair values were as follows: Pane Format Text Effect A A Shadow Reflection Glow Soft Edges Book Values Fair Values Remaining Life $ 80,000 $ 80,000 1,000,000 5 years Presets 900,000 10 years 2,000,000 4 years Size Current assets Buildings and equipment Trademarks Patented technology Current liabilities Long-term notes payable Common stock Additional paid-in capital Retained earnings 1.250,000 700,000 940,000 $2.970,000 $ 180,000 1,500,000 50,000 500,000 740,000 $2.970,000 $ 180.000 1,500,000 In addition, Patterson assigned a $600,000 value to certain unpatented technologies recently developed by Soriano. These technologies were estimated to have a three-year remaining life. During the year, Soriano declared a $30,000 dividend for its shareholders. The companies reported the following revenues and expenses 6. #I 3-D Format