Question 8 1 pts Gigo Company acquires all of the voting stock of Hanna Corporation for...

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Question 8 1 pts Gigo Company acquires all of the voting stock of Hanna Corporation for $100,000,000 in cash on January 1, 2019, in a merger. Hanna's balance sheet at the date of acquisition is as follows: Dr (Cr) Current assets $25,000,000 Plant and equipment 400,000,000 Liabilities (415,000,000) Capital stock (1,000,000) Retained earnings (9,000,000) Hanna's plant and equipment is overvalued by $8,000,000 and it has unreported intangibles with a fair value of $25,000,000. Question 8 1 pts Gigo Company acquires all of the voting stock of Hanna Corporation for $100,000,000 in cash on January 1, 2019, in a merger. Hanna's balance sheet at the date of acquisition is as follows: Dr (Cr) Current assets $25,000,000 Plant and equipment 400,000,000 Liabilities (415,000,000) Capital stock (1,000,000) Retained earnings (9,000,000) Hanna's plant and equipment is overvalued by $8,000,000 and it has unreported intangibles with a fair value of $25,000,000.