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The financial statements for Campbell, Inc., and Newton Company for the year ended December 31, 2021. prior to the business combination whereby Campbell acquired Newton,

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The financial statements for Campbell, Inc., and Newton Company for the year ended December 31, 2021. prior to the business combination whereby Campbell acquired Newton, are as follows (in thousandsy: Campbell $2,600 1,880 $ 720 Newton $ 780 480 $ 380 $ 5ee 3eo @ $ see Revenues Expenses Net income Retained earnings, 1/1 Net income Dividends Retained earning, 12/31 Cash Receivables and inventory Buildings (net) Equipment (net) Total assets Liabilities Common stock Additional paid in capital Retained earnings Total liabilities & stockholders' equity $2,400 720 (270) $2,850 $ 240 1,200 2,700 2,100 $6,240 $1,500 1,080 812 2,850 $6,240 $ 230 360 650 1,300 $2,540 $ 720 420 620 seo $2,540 On December 31, 2021. Campbell obtained a loan for $650 and used the proceeds, along with the transfer of 35 shares of its $10 par value common stock, in exchange for all of Newton's common stock. At the time of the transaction, Campbell's common stock had a fair value of $40 per share. In connection with the business combination, Campbell paid $25 to a broker for arranging the transaction and $30 in stock Issuance costs. At the time of the transaction, Newton's equipment was actually worth $1,450 but its buildings were only valued at $590. Compute the consolidated cash account at December 31, 2021. Multiple Choice $230 $240. 3415 $445. $470

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