Stockholders of Swifty Company, Sheffield Company, and Sarasota Company are considering alternative arrangements for a business Your answer is partially correct.

Prepare a balance sheet for the business combination. Assume the following: Swifty Company acquires all the assets and assur

all the liabilities of Sheffield and Sarasota Companies by issuing in exchange $140,970$ shares of its common stock to Sheffield

Company and $40,380$ shares of its common stock to Sarasota Company. $($List assets in order of liquidity. Enter negalive account

balance with negative sign preceding the number eg $-5,125$ or parentheses eg$.(5,125).)$

SWIFTY COMPANY

Balance sheet

October $1,2024$

Assets

Assets $($ercept goodwill$)$

Goodwill

$

Total Assets

$$\sqrt[\phantom{2}]{20935950}$

Liabilities and Stockholders' Equity

Liabilities

Common Stock

$

Other Contributed Capital

Retained Earnings

$11948490$

Total Liabilities and Stockholders' Equity $$

combination. Balance sheets and the fair values of each company's assets on October $1,2024,$ were as follows:

Swifty Company shares have a fair value of $$50.$ A fair $($market$)$ price is not available for shares of the other companies because they

are closely held. Fair values of liabilities equal book values.

$($a$)$

Your answer is partially correct.

Prepare a balance sheet for the business combination. Assume the following: Swifty Company acquires all the assets and assumes

all the liabilities of Sheffield and Sarasota Companies by issuing in exchange $140,970$ shares of its common stock to Sheffield

Company and $40,380,$shares of its common stock to Sarasota Company. $($List assets in order of liquidity. Enter negative account

balance with negative sign preceding the number es$.-5,125$ or parentheses e$.8.(5,125).)$