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Question #2. 20 marks The following are the balance sheets for Investor and Investee immediately prior to Investor's September 1, 2019, acquisition of Investee: Investor
Question \#2. 20 marks The following are the balance sheets for Investor and Investee immediately prior to Investor's September 1, 2019, acquisition of Investee: Investor buys 80% of Investee's common stock for $264,000 cash. The fair value of Investee's land is $30,000 and of its buildings and equipment is $165,000. All other fair values equal book values. Required: Prepare the consolidated balance sheet immediately after acquisition
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