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On January 10, 2022, CAE Corporation acquired 80% of PEN Corporation by issuing 50,000 common stocks. The current market value of the stocks issued is

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On January 10, 2022, CAE Corporation acquired 80% of PEN Corporation by issuing 50,000 common stocks. The current market value of the stocks issued is Php 20.00. Furthermore, CAE Corporation paid additional cash of Php 150,000 as part of the consideration. Moreover, CAE Corp. has agreed to a contingent consideration of Php 50,000 to be paid on January 1,2023. On the date of acquisition, CAE Corporation, because of the acquisition, incurred and paid the following expenses

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