Question 2 16 pts The following table shows preliminary financial information for Parent Co. and Sub Co. for the year ending December 31, 2022 prior to Parent's acquisition of Sub. 1 Parent Co. Sub Co. Net income 110,000 90,000 Current assets 337,500 112,500 Land 112,500 101,250 Equipment (net) 450,000 315,000 Liabilities 101,250 123,750 Retained earnings, 528,750 326,250 12/31/22 Common Stock 180,000 67,500 Additional paid-in 90,000 11,250 capital On December 31, 2022 (subsequent to the preceding statements), Parent exchanged 10,000 shares of its $5 par value common stock for all of the outstanding shares of Sub. Parent's stock on that date has a fair value of $45 per share. It cost Parent $5,000 to register and issue the stock. Sub's land was appraised at $110,000 and the equipment has a fair value of $322.000. Assuming that Sub Co. dissolved, complete the acquisition journal entry. There are the correct number of boxes for the answer. DR DR $ $ Common Stock Additional paid-in capital secured lockdown 180,000 67,500 90,000 11,250 On December 31, 2022 (subsequent to the preceding statements), Parent exchanged 10,000 shares of its $5 par value common stock for all of the outstanding shares of Sub. Parent's stock on that date has a fair value of $45 per share. It cost Parent $5,000 to register and issue the stock. Sub's land was appraised at $110,000 and the equipment has a fair value of $322,000. Assuming that Sub Co. dissolved, complete the acquisition journal entry. There are the correct number of boxes for the answer. DR DR $ DR DR CR CR CR CR $ $ 4