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PROBLEM #2 (15 points) On February 24, 2021. Hodge Inc. issued 30K of its $10 par value common shares for all (100%) of the common

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PROBLEM #2 (15 points) On February 24, 2021. Hodge Inc. issued 30K of its $10 par value common shares for all (100%) of the common shares of Bison Co. At the time of issuance, Hodge's shares were being traded at $30/share on the NYSE. Hodge's costs of the business acquisition consisted of the following costs: Legal fees: $25K Costs for stock issuance: $30K . Prepare the journal entries to record the business combination (these entries would appear on the books of Hodge Inc.)

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