The following information has been extracted from Pride Co. and Safola Co. on June 30, 2020. Pride Co. Safola Co. Safola Co. Book Value Fair Value Current assets $400,000 $80,000 $80,000 Patented technology 800,000 100,000 700,000 In-process research & Development 500,000 Liabilities (500,000) (400,000) (400,000) Common stock (300,000) (100,000) Additional paid-in capital (400,000) (300,000) Retained earnings, deficit 1/1 (200,000) 700,000 Revenues (1,000,000) (300,000) Expenses 600,000 220,000 Pride Co. obtained all the outstanding shares of Safola Co. on June 30 paying $70,000 cash and issuing debt for 900,000. Pride also agreed to pay $50,000 to an investment bank to arrange the combination and paid $9,000 to its employees who helped with the business combination. Required: (3 points) 1. Allocate the consideration transferred among the assets acquired and liabilities assumed to show any goodwill or gain on bargain purchase. 2. Calculate consolidated: a. Patented technology b. Common stock. c. Current assets. d. Liabilities. e. Expenses