Problem 2-5 Your answer is partially correct. Try again Balance sheets for Salt Company and Pepper Company on December 2013. fullow: Salt Pepper ASSETS Cash $102,900 $190,640 Recaivables 125,570 213,010 5,470 Inventone $1.026.210 Total assets 1,780.992 EQUITIES Accounts payable 5184.030 s235.862 Mortgage payable 142.820 193.690 Common stock, $20 par value 334,860 827.300 capital r contnibuted. $1,026,210 $1,780,992 Total equities for arh nngnt f u36 500nd 375 100in lang-trrm 8 tr abl Panper Compara's recsiuatr incude t63 pn upd bu alt Comrars Bpr Camparuis willing to aa $233.840 and Salt Company has historically earned abova-normal profits. e than th onk ualue ef Comaanyrrntr braurn lant arcate a undaryaued o Prepare a pro forma balance sheet showing the effects of these planned transactions. (If an amount reduces the account halance then enter with negative sign preceding the number e.q. -5,125 or parentheses e.g. (5,125).) PEPPER COMPANY Pro Forma Balance Sheet Giving Effect to Proposed Issue of Common Stock and Note Payable for All of the Common Stock of Salt Company under Purchase Accounting December 31, 2013 Audited Pro Forma Balance Sheet Adjustments Balance Sheet Cash $190,640 471890 281250 Receivables 149110 213,010 339580 Inventories 214,052 135470 349522 |X Plant Assets 1,163,290 895110 2058400 Goodwill C 104500 104500 1,780,992 Total Assets 2960712 Accounts Payable 120130 355992 235,862 Notes Payable, 8% 0 275100 275100 Mortgage Payable 193,690 336510 142820 Common Stock, $20 par 827,300 1832150 1004850 Additional Paid-in Capital 295,860 295860 Retained Earnings 228,280 228280 Total Liabilities and Equity 1,780,992 x