Problem 2-25 (Algo) (LO 2-4,2-5, 2-6, 2-6, 2-6c) Following are preacquisition financial balances for Padre Company and Sol Company as of December 31. Also included are fair values for Sol Company accounts. Cash Receivables Inventory Land Building and equipment (net) Franchise agreements Accounts payable Accrued expenses Longterm liabilities Common stock-$20 par value Common stock-$5 par value Additional paid-in capital Retained earnings, 1/1 Revenues Expenses Padre Company Sol Company Book Book Values Fair Values Values 12/31 12/31 12/31 $ 538,750 88,750 $ 88,750 294,000 302,000 302,000 412,500 257,000 314,500 620,000 215,000 185,200 807,500 339,000 406,100 224,000 194,000 227,300 (383,000) (219,000) (219,000) (155,000) (33,750) (33,750) (1,065, 000) (552,500) (552,500) (660,000) (210,000) (70,000) (90,000) (510,000) (265,000) (1,048,750) (347,500) 995,000 322,000 Note: Parentheses indicate a credit balance. On December 31, Padre acquires Sol's outstanding stock by paying $155,000 in cash and issuing 16,500 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $26,500 as well as $11,900 in stock issuance costs. Determine the value that would be shown in Padre's consolidated financial statements for each of the accounts listed. (Input all amounts as positive values.) Accounts Amounts On December 31, Padre acquires Sol's outstanding stock by paying $155,000 in cash and issuing 16,500 shares of its own common stock with a fair value of $40 per share. Padre paid legal and accounting fees of $26,500 as well as $11,900 in stock issuance costs. Determine the value that would be shown in Padre's consolidated financial statements for each of the accounts listed. (Input all amounts as positive values.) Amounts Accounts Inventory Land Buildings and equipment Franchise agreements Goodwill Revenues Additional paid-in capital Expenses Retained earnings, 1/1 Retained earnings, 12/31