Prior to being united in a business combination, Mani Inc. and Toba Corp. had the following stockholders' equity figures: Mani Toba Common stock ($1 par value) $240.000 $62,000 Additional paid-in capital 120,000 110.000 Retained earnings 370.000 4,000 Mani issued 64,000 new shares of its common stock valued at $2.75 per share for all of the outstanding stock of Toba Assume that Mani acquired Toba on January 1, 2021 and that Toba maintains a separate corporate existence. At what amount did Mani record the investment in Toba? A Assume that Mani acquired Toba on January 1, 2021. Immediately afterwards, what is the reported amount of the consolidated Common Stock? A Immediately afterwards, what is the reported amount of the consolidated Additional paid-in capital? A/ Page 5 of 19 Previous Page Next Page Submit Quiz 4 of 19 questions saved