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solve for only goodwill & Patent (C&D). Please find attached question On June 30, 2015, Wisconsin, Inc., issued $194,700 in debt and 20,800 new shares
solve for only goodwill & Patent (C&D). Please find attached question
On June 30, 2015, Wisconsin, Inc., issued $194,700 in debt and 20,800 new shares of its $10 par value stock to Badger Company owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2015, were as follows: Revenues Expenses Net income Retained earnings, 1/1 Net income Dividends declared Retained earnings, 6/30 Cash Receivables and inventory Patented technology (net) Equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings Total liabilities and equities Wisconsin Badger $ (993,000) $ (410,000) 737,000 295,000 $ (256,000) $ (115,000) $ (838,000) $ (245,000) (256,000) (115,000) 95,250 0 $ (998,750) $ (360,000) $ 76,750 430,000 954,000 726,000 $ 2,186,750 $ 87,000 173,000 388,000 634,000 $ 1,282,000 $ (558,000) $ (452,000) (360,000) (200,000) (270,000) (270,000) (998,750) (360,000) $(2,186,750) $(1,282,000) Note: Parentheses indicate a credit balance. Wisconsin also paid $38,200 to a broker for arranging the transaction. In addition, Wisconsin paid $46,100 in stock issuance costs. Badger's equipment was actually worth $785,500, but its patented technology was valued at only $364,000. What are the consolidated balances for the following accounts? (Input all amounts as positive values.) nswer is complete but not entirely correct. a. b. c. d. e. f. g. Accounts Amounts Net income. $217,800 Retained earnings, 1/1/15. $838,000 Patented technology. $1,390,700 Goodwill. $67,200 Liabilities. $1,204,700 Common stock. $568,000 $847,900 Additional paid-in capitalStep by Step Solution
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