QUESTION 1 Not complete Marked out of 35.00 Flag question Consolidation at date of acquisition (purchase price equals book value) A parent company acquires its subsidiary by exchanging 35,000 shares of its Common Stock, with a market value on the acquisition date of $25 per share, for all of the outstanding voting shares of the investee. a. What is the total fair value of the subsidiary on the acquisition date? b. Given the balance sheets of the parent and subsidiary in c. below, prepare the consolidation entry or entries on the date of acquisition Consolidation WorkSheet Description Common stock Debit Credit APIC