PART B-19 QUESTIONS The following information pertains to questions 22 through 40: On January 1, 20X1 Papa Company acquired i00% of the outstanding common stock of Bambina S500000 in cash and by issuing to Bambina owners 30.000shares of its common stock s 30,000 shares of its common stock. The shares issued by Papa Company had $1 par value and were traded on the stock exchange share on that date. Bambina reported net assets of 600,000 on the date of the acquisition Bambina assets were internally developed and were not reported on its books or had fair value that differed from it carrying value on the date of the acquisition as follow for $25 a Some of Trademarks (indefinite life) Patented Technologies (10 years) Equipment (5 years) Book Values 50,000 0- 450,000 Fair Values 200,000 150,000 410,000 Presented on the following page are the financial statements at the end of the first year of both companies prepared from their separately maintained accounting systems. Credit balances are indicated by parentheses