Question four: On December 31, 2012, Rife Company issued 172,00 shares of its S20 par ordinary share (current fair value $35) to stockholders of Village Company in exchange for 80% outstanding shares of $5 par ordinary shares in a business combination. Out of pocket costs were legal combination fees 14,200, finder foes 12,000, auditing fees 18.000 registration fees 3.460. The financial statement of Village Co, and its fair value for the year ended 31/12/2012 are: Assets Cash account rec. Inventories plant assets intangible assets 31/12/07 35,000 46,500 235.000 520.000 110,000 F.M.V L&EQ account payable long term debit 255000 common stock 620000 paid in excess 120000 retained earning 31/12/07 125.000 300,000 300,000 100,000 121,500 Required: Journalize all entries for investment and the elimination entry in the date of business combination