Pancor Corporation paid cash of $$173,000$ to acquire Sink Company's net assets on February $1,203.$ The balance sheet data for the

two companies and fair value information for Sink immediately before the business combination were:

Required:

a$.$ Prepare the journal entry recorded by Pancor Corporation when it acquired Sink's net assets.

b$.$ Prepare a balance sheet for Pancor immediately following the acquisition.

c$.$ Prepare the journal entry to be recorded by Pancor if it acquires all of Sink's common stock for $$173,000.$

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