This is all one question! Please answer all 10 parts! Thank you

Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $560,000. In addition to the purchase price, FVI makes the following expenditures related to the acquisition: broker's commission, $36,000; title insurance, $2,600; and miscellaneous closing costs, $7,200. The warehouse is immediately demolished at a cost of $36,000 in anticipation of building a new warehouse. Determine the amount FVI should record as the cost of the land. Cost of the land Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $32,000,000 in cash. The book values and fair values of Iceberg's assets and liabilities were as follows: Book Value Fair Value $12,600,000 25,200,000 4,200,000 8,000,000 15,000,000 $15,600,000 31,200,000 5,200,000 8,000,000 14,000,000 Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Required: Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should be entered as 5).) Amount paid for goodwill million Speedy Delivery Company purchases a delivery van for $39,200. Speedy estimates that at the end of its four-year service life, the van will be worth $6,600. During the four-year period, the company expects to drive the van 163,000 miles. Actual miles driven each year were 42,000 miles in year 1 and 48,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.) 1. Straight-line Annual Year Depreciation 1 2 2. Double-declining-balance. Annual Year Depreciation 1 2 3. Activity-based. Annual Year Depreciation 1 2 Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. equired: Calculate the balance in the accumulated depreciation account at the end of the second year. Accumulated depreciation Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 2. Calculate the book value of the ovens at the end of the second year. Book value Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 3. What is the gain or loss on the sale of the ovens at the end of the second year? Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Require nation Journal entry worksheet K 1 Record the sale of ovens. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required information [The following information applies to the questions displayed below.] Sub Station and Planet Sub reported the following selected financial data ($ in thousands). Sub Station's business strategy is to sell the best tasting sandwich with the highest quality ingredients. Planet Sub's business strategy is to sell the lowest cost sub on the planet. Sub Station Planet Sub $109,449 $63,271 Net sales Net income Total assets, beginning Total assets, ending 27,122 76,383 118,771 4,692 40,799 46,933 Required: 1. Calculate Sub Station's return on assets, profit margin, and asset turnover ratio. (Enter your answers in thousands of dollars. (i.e. 123,000 should be entered as 123).) Return on Assets Choose Denominator Choose Numerator Return on Assets Return on assets Profit Margin Choose Numerator Choose Denominator Profit Margin + Profit Margin = Asset Turnover Choose Numerator Choose Denominator Asset Turnover Asset Turnover times 2. Calculate Planet Sub's return on assets, profit margin, and asset turnover ratio. (Enter your answers in thousands of dollars. (i.e. 123,000 should be entered as 123).) Return on Assets Choose Numerator Choose Denominator Return on Assets Return on assets = Profit Margin Profit Margin Choose Numerator Choose Denominator Profit Margin - Asset Turnover Choose Numerator Choose Denominator Asset Turnover Asset Turnover times " | 3-a. Which company has the higher profit margin? Sub Station's Planet Sub 3-b. Which company has the higher asset turnover? Sub Station's Planet Sub 3-c. Are the two ratios consistent with the primary business strategies of the two companies? Yes No Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $560,000. In addition to the purchase price, FVI makes the following expenditures related to the acquisition: broker's commission, $36,000; title insurance, $2,600; and miscellaneous closing costs, $7,200. The warehouse is immediately demolished at a cost of $36,000 in anticipation of building a new warehouse. Determine the amount FVI should record as the cost of the land. Cost of the land Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $32,000,000 in cash. The book values and fair values of Iceberg's assets and liabilities were as follows: Book Value Fair Value $12,600,000 25,200,000 4,200,000 8,000,000 15,000,000 $15,600,000 31,200,000 5,200,000 8,000,000 14,000,000 Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Required: Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should be entered as 5).) Amount paid for goodwill million Speedy Delivery Company purchases a delivery van for $39,200. Speedy estimates that at the end of its four-year service life, the van will be worth $6,600. During the four-year period, the company expects to drive the van 163,000 miles. Actual miles driven each year were 42,000 miles in year 1 and 48,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.) 1. Straight-line Annual Year Depreciation 1 2 2. Double-declining-balance. Annual Year Depreciation 1 2 3. Activity-based. Annual Year Depreciation 1 2 Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. equired: Calculate the balance in the accumulated depreciation account at the end of the second year. Accumulated depreciation Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 2. Calculate the book value of the ovens at the end of the second year. Book value Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 3. What is the gain or loss on the sale of the ovens at the end of the second year? Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $650,000. The ovens originally cost $855,000, had an estimated service life of 10 years, had an estimated residual value of $55,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Require nation Journal entry worksheet K 1 Record the sale of ovens. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required information [The following information applies to the questions displayed below.] Sub Station and Planet Sub reported the following selected financial data ($ in thousands). Sub Station's business strategy is to sell the best tasting sandwich with the highest quality ingredients. Planet Sub's business strategy is to sell the lowest cost sub on the planet. Sub Station Planet Sub $109,449 $63,271 Net sales Net income Total assets, beginning Total assets, ending 27,122 76,383 118,771 4,692 40,799 46,933 Required: 1. Calculate Sub Station's return on assets, profit margin, and asset turnover ratio. (Enter your answers in thousands of dollars. (i.e. 123,000 should be entered as 123).) Return on Assets Choose Denominator Choose Numerator Return on Assets Return on assets Profit Margin Choose Numerator Choose Denominator Profit Margin + Profit Margin = Asset Turnover Choose Numerator Choose Denominator Asset Turnover Asset Turnover times 2. Calculate Planet Sub's return on assets, profit margin, and asset turnover ratio. (Enter your answers in thousands of dollars. (i.e. 123,000 should be entered as 123).) Return on Assets Choose Numerator Choose Denominator Return on Assets Return on assets = Profit Margin Profit Margin Choose Numerator Choose Denominator Profit Margin - Asset Turnover Choose Numerator Choose Denominator Asset Turnover Asset Turnover times " | 3-a. Which company has the higher profit margin? Sub Station's Planet Sub 3-b. Which company has the higher asset turnover? Sub Station's Planet Sub 3-c. Are the two ratios consistent with the primary business strategies of the two companies? Yes No