(Please answer both parts of question A prepare the acquisition entry and the balance sheet)

Post-Combination Balance Sheet: Merger and Stock Acquisition Presented below are the balance sheets of Allen Corporation and Benson Corporation tion. The fair values of Benson's reported net assets equal their book values, and previously unreported identifiable intangible assets have a fair value of $200.000. LO 1 , immediately prior to a business combina- Allen Corp Benson Corp. 50,000 Cash Other current assets. $1,000,000 600,000 1,200,000 150,000 400,000 $600,000 Total assets. $100,000 250,000 100,000 50,000 100,000 $600,000 Current liabilities. . . . 300,000 600,000 200,000 900,000 800,000 Retained earnings Required a. Prepare the acquisition entry and the balance sheet of Allen Corporation after each of the following business combinations: (1) Allen acquires Benson for $800,000 cash in a transaction recorded as a merger. (2) Allen acquires Benson for $800,000 cash in a transaction recorded as a stock acquisition