QUESTION 11 USE THE FOLLOWING INFORMATION FOR QUESTIONS 11-12 The Prince Company acquired 100% of the voting stock of the Queen Company on January 1, 2016 for the following consideration: $ 1,400,000 market value of 10,000 shares of its $5 par value common stock $ 2,200,000 note payable due in 5 years A contingent payment of $ 300,000 cash if Queen generates profits of $ 500,000 or more in 2016 (Fair value= $ 57,000) Queen's profits in 2016 totaled $ 600,000 11) Record the initial entry for the acquisition of Queen: ***Use Table Function*** Paragraph Arial 3 (12pt) T* T. A T HTML CSS fx Mashups Words:0 Path: P Save All Answers Close Windd Click Save and Submit to save and submit. Click Save All Answers to save all answers