Problem 2LO 3 Panther Corporation acquires 75% of the voting stock of Savana Company by issuing no-par common stock with a fair value of $6.000. Consulting fees are $300 and registration costs are $80, both paid in cash. Vested stock options issued to replace options held by Savana employees have a fair value of $500. The fair value of the noncontrolling interest is $2.000. Savana's trial balance at the date of acquisition is as follows, along with fair value information on its assets and liabilities: Book Value Dr (C) $60,000 Tangible assets Fair Value Dr (Cr) $54,000 15,750 (56,850) Identifiable intangibles Liabilities Capital stock (56,700) 19,000) 6,000 Retained earnings Accumulated other comprehensive income (300) Total Required a. Calculate the gain on acquisition, recorded by Panther on its own books. b. Prepare the journal entry to record the acquisition on Panther's books ANS