$s ClassCo acquires StudentCo with pre acquisition Balance Sheets below ClassCo pays $670,000 cash - 52,950,000 in ClassCo shares Inew issue) 670,000 ClassCo determines Fair value of Student Co assets as follows: 2,950,000 Student Co. was not dissolved FV ad ustments to BSitems A/R 50,000 the fair valueIFV] greater than BV by amt on left Inventory 60,000 FV> BV Net PPE 90,000 the FV is greater than BV by amt, on left, life 5 years Current Liabilities 75,000 the FV less than BV for accrued expense in C.Liab. By amt, on left and the following FV assets were determined not on Student ES Patents 200,000 4 year life trademarks 150,000 indefinite StudentCo Before Acquisition Casaco Student Co StudentCo Excess Assets: 5s FV5 less Book Cash 1.090.000 440.000 A/R 3.100,000 1,100,000 Inventory 2,200,000 1,450,000 Current Assets 6.390,000 2.990,000 Net PPE 4.400,000 1,800,000 Investments 0 Intangibles Goodwill 110,000 Total Assets 10.900.000 4.790,000 Current Liabilities 3,000,000 790,000 Long term Debt 2,900,000 1,800,000 Total Liabilities 5,900,000 2.590,000 Equity: Capital 4,000,000 1,800,000 Equity: Retained earnings 1,000,000 400.000 Total Equity 5,000,000 2.200,000 Total Liabilities & Equity 10.900,000 4.790,000 check TO DO [a]Above boxes: Show Fair Value by asset & liability similar to a BS [b]Prepare a post acquisition consolidate balance sheet Co BS and consolidating columns and consolidated BS 110,000 from earlier investment $s ClassCo acquires StudentCo with pre acquisition Balance Sheets below ClassCo pays $670,000 cash - 52,950,000 in ClassCo shares Inew issue) 670,000 ClassCo determines Fair value of Student Co assets as follows: 2,950,000 Student Co. was not dissolved FV ad ustments to BSitems A/R 50,000 the fair valueIFV] greater than BV by amt on left Inventory 60,000 FV> BV Net PPE 90,000 the FV is greater than BV by amt, on left, life 5 years Current Liabilities 75,000 the FV less than BV for accrued expense in C.Liab. By amt, on left and the following FV assets were determined not on Student ES Patents 200,000 4 year life trademarks 150,000 indefinite StudentCo Before Acquisition Casaco Student Co StudentCo Excess Assets: 5s FV5 less Book Cash 1.090.000 440.000 A/R 3.100,000 1,100,000 Inventory 2,200,000 1,450,000 Current Assets 6.390,000 2.990,000 Net PPE 4.400,000 1,800,000 Investments 0 Intangibles Goodwill 110,000 Total Assets 10.900.000 4.790,000 Current Liabilities 3,000,000 790,000 Long term Debt 2,900,000 1,800,000 Total Liabilities 5,900,000 2.590,000 Equity: Capital 4,000,000 1,800,000 Equity: Retained earnings 1,000,000 400.000 Total Equity 5,000,000 2.200,000 Total Liabilities & Equity 10.900,000 4.790,000 check TO DO [a]Above boxes: Show Fair Value by asset & liability similar to a BS [b]Prepare a post acquisition consolidate balance sheet Co BS and consolidating columns and consolidated BS 110,000 from earlier investment