VMware, Inc. is a subsidiary of Dell Technologies Inc., providing customers with IT resource management. In fiscal 2020, VMware acquired Avi Networks, Inc., a provider of multi-cloud application delivery services, for $302 million. This price reflected goodwill of $205 million and identifiable intangible assets of $85 million. Assume that VMware paid the acquisition price in cash, and also incurred $9 million in acquisition-related legal and advisory services, paid in cash.

Required

Note: Provide all answers in millions.

a. What was the fair value of tangible net assets, if any, that VMware recognized at the date of acquisition?

$Answer

million

b. Prepare the journal entry to record this business combination.

		Debit	Credit
	Additional paid-in capitalCashCommon StockGain on AcquisitionGoodwillIdentifiable intangible assetsMerger expensesN/ARetained EarningsTangible net assets		Answer
	Additional paid-in capitalCashCommon StockGain on AcquisitionGoodwillIdentifiable intangible assetsMerger expensesN/ARetained EarningsTangible net assets		Answer
	Additional paid-in capitalCashCommon StockGain on AcquisitionGoodwillIdentifiable intangible assetsMerger expensesN/ARetained EarningsTangible net assets		Answer
	Additional paid-in capitalCashCommon StockGain on AcquisitionGoodwillIdentifiable intangible assetsMerger expensesN/ARetained EarningsTangible net assets		Answer
	Additional paid-in capitalCashCommon StockGain on AcquisitionGoodwillIdentifiable intangible assetsMerger expensesN/ARetained EarningsTangible net assets