On June 31, 2019. Mai Coquired all of the common Hock of Golden Company, which became advies of Me Calle reported the following time of the quali Gold Company Statement of Financial Position Assets Equity and Liabilities Plantes (net) 31,250,000 Share capital-ordinary $1,045.000 Inventory 370,000 Retained ning 1,000,000 Receivables 750,000 Accounts payable 675.000 Cash 350.000 Total assets 52.720.000 Total equity and liabilities 52.720.000 An appraisal indicated that the fair value of the inventory was $375,000 and the fair value of the plantsuseta ww 31450,000. The speed purchase price w 3,000,000, and this sunt vu podle cash to the previous owners of Golden Company Required: a. Prepare the entry to record the purchase of Golden Company, b. Assume that the carrying amount of Golden Company division's net assets, including goodwill is $2,800,000. The recoverable amount of the division is stimated to be 3,200,000. Prepare the journal entry to record the impairment loss (if any) on December 31, 2019. For the toolbar, press ALT+F10 (PO) O ALTAFN+F10/Mac BIUS Paragraph Arial 10pt An appraisal indicated that the fair value of the inventory was $375,000 and the fair value of the plant watu wa 51.450,000. The speed purchase price was $3,000,000, and this went was paid in eash to the previous owners of Golden Company Required: a. Prepare the entry to record the purchase of Golden Company b. Assume that the carrying amount of Golden Company division's net assets, including goodwil is $2,800,000. The recoverable amount of the division is estimated to be 3,200,000. Prepare the journal entry to record the impairment loss (if any) on December 31, 2019 On June 31, 2019, Majestic Co, acquired all of the common stock of Golden Company, which became a division of Majestic Co. Golden Teport time of the acquisition: Golden Company Statement of Financial Position Assets Equity and Liabilities Plant assets (net) $1,250,000 Share capital-ordinary $1,045,000 Inventory 370,000 Retained earnings 1,000,000 Receivables 750,000 Accounts payable 675,000 Cash 350,000 Total assets $2.720,000 Total equity and liabilities $2,720,000