P 1-3 qumal entries and balance sheet for an acquislon On January 2, 2011, Par Corporation issues its own $10 par common stock for all the outstanding stock of Sin Corporation in an acquisition. Sin is dissolved In addition, Par pays $40,000 for registering and issuing securities and 3560.000 for other costs of combination. The market price of Par's stock on January 2, 201], is $60 per share. Relevant balance sheet information for Par and Sin Corporations on December 31, 2010, just before the combination, is as follows (in thousands]: Par Sill Sin Historical Cost Historical Cost Fair Value Cash $ 240 $ 20 $ 20 [memories 10'.) 60 120 Other current assets 200 180 200 Land 160 40 200 Plant and equipmentnet 1,300 E 700 Total assets $2,000 $1 liabilities $ 400 $100 $ 100 Capital stock, $10 par 1,000 200 Additional paidin capital 400 100 Retained earnings 200 E Total liabilities and owners' equity $2,000 m R E [I U | H E D 1. Assume that Par issues 25,000 shares of its stock for all of Sin's outstanding shares. a. Prepare journal entries to record the acquisition of Sin. h. Prepare a balance sheet for Pat Corporation immediately after the acquisition. 2. Assume that Par issues 15,000 shares of its stock for all of Sin's outstanding shares. 9. Prepare journal entries to record the acquisition of Sin. 1:. Prepare a balance sheet for Par Corporation immediately after the acquisition