On July 1, 2025, Sheffield Corporation purchased Young Company by paying $256,500 cash and issuing a $120,000 Steve Young. At July 1, 2025, the balance sheet of Young Company was as follows. Cash Accounts receivable Inventory Land Buildings (net) Equipment (net) Trademarks $51,400 89,500 109,000 40,200 76,500 71,400 11,400 $449,400 Accounts payable Stockholders' equity $205,000 244,400 $449,400

On July 1,2025 , Sheffield Corporation purchased Young Company by paying $256,500 cash and issuing a $120,000 Steve Young. At July 1, 2025, the balance sheet of Young Company was as follows. On July 1,2025 , Sheffield Corporation purchased Young Company by paying $256,500 cash and issuing a $120,000 Steve Young. At July 1, 2025, the balance sheet of Young Company was as follows