QUESTION 14 All Company acquired Khalifa Company in a statutory merger. In payment, All Co. Issued 100,000 shares of $3 par share capital. At the time of the merger, All Company stock was selling for $10 per share. To negotiate the transaction, All Co. also paid various merger costs totalling 50,000. To register the new stock issue, All Company paid required registration fees of 15,000. On the acquisition date, balance sheet amounts for both All Company and Khalifa Company are given below. All Co Khalifa Co. Khalifa Co. Book Book Fair Values Values Values Cash & Receivables 400,000 160,000 150,000 Inventory 262,500 105,000 200,000 Land 150,000 60,000 100,000 Plant & Equipment 1,000,000 400,000 300,000 Accumulated Depreciation (375,000) (150,000) Total Assets 1,437,500 575,000 Accounts Payable 125,000 50,000 40,000 Bonds Payable 250,000 100,000 115,000 Discount on Bonds (12,500) (5,000) Share Capital 250,000 100,000 Share Premium 150,000 60,000 Retained Earnings 675,000 270,000 Total Liabilities & Equity 1,437,500 575,000 Required: 1 - Provide the journal entry or entries that All Co. made to record the merger and all related transactions. 2- What would be the balance in the Inventory account immediately after the merger? 3 - What would be the balance in the Share Premium account immediately after the merger? T Paragraph Arial # 3 (12pt) IE. T