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Silver Enterprises has acquired All Gold Mining in a merger transaction. The following balance sheets represent the premerger book values for both firms: Silver Enterprises

Silver Enterprises has acquired All Gold Mining in a merger transaction. The following balance sheets represent the premerger book values for both firms:

Silver Enterprises
Current assets $ 5,000 Current liabilities $ 3,000
Other assets 1,400 Long-term debt 7,700
Net fixed assets 17,300 Equity 13,000
Total $ 23,700 Total $ 23,700

All Gold Mining
Current assets $ 1,500 Current liabilities $ 1,390
Other assets 550 Long-term debt 0
Net fixed assets 7,600 Equity 8,260
Total $ 9,650 Total $ 9,650

Construct the balance sheet for the new corporation assuming that the transaction is treated as a purchase for accounting purposes. The market value of All Gold Mining's fixed assets is $8,850; the market values for current and other assets are the same as the book values. Assume that Silver Enterprises issues $14,000 in new long-term dept to finance the acquisition.

Silver Enterprises, post-merger
Current assets $ Current liabilities $
Other assets Long-term debt
Net fixed assets Equity
Goodwill
Total $ Total $

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