The balance sheet of Drake Enterprises as at December 31 , Year 5 , is as follows: Effective January 1 , Year 6 , Drake proposes to issue 83,000 common shares (currently trading at $21 per share) for all of the common shares of Hanson Industries. In determining the acquisition price, the management of Drake noted that Hanson Industries has unrecorded customer service contracts and directed its accounting staff to reflect this when recording the acquisition. An independent appraiser placed a value of $151,000 on this unrecorded intangible asset. Direct costs associated with the acquisition were as follows: The balance sheet of Hanson Industries as at December 31, Year 5 , is as follows: Hanson Industries is to be wound up after the sale. The balance sheet of Drake Enterprises as at December 31 , Year 5 , is as follows: Effective January 1 , Year 6 , Drake proposes to issue 83,000 common shares (currently trading at $21 per share) for all of the common shares of Hanson Industries. In determining the acquisition price, the management of Drake noted that Hanson Industries has unrecorded customer service contracts and directed its accounting staff to reflect this when recording the acquisition. An independent appraiser placed a value of $151,000 on this unrecorded intangible asset. Direct costs associated with the acquisition were as follows: The balance sheet of Hanson Industries as at December 31, Year 5 , is as follows: Hanson Industries is to be wound up after the sale