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Wolverine Corporation and Badger Company have announced terms of an exchange agreement under which Wolverine will issue 8,000 shares of its 510 par value common
Wolverine Corporation and Badger Company have announced terms of an exchange agreement under which Wolverine will issue 8,000 shares of its 510 par value common staock to acquire all of Badger Company's assets. Wolverine shares currently are trading at 550, and Badger 55 par value shares are trading at 518 each. Historical cost and fair value balance sheet data on January 1, 20X2, are as follows: Wolverine Corporation Balance Sheet Item Book Value | Fair Value Cash & Receivables 150000 150000 Land 100000 170000 Buildings & Equipment (Net) 300000 400000 Total Assets 550000 720000 Common Stock 200000 Additional Paid-in-Capital 20000 Retained Earnings 330000 Total Equities 550000 Badger Company Balance Sheet ltem Cash & Receivables 40000 40000 Land 50000 85000 Buildings & Equipment (Net) 160000 230000 Total Assets 250000 355000 Common Stock 100000 Additional Paid-in-Capital 10000 Retained Earnings 140000 Total Equities 250000 Required: What amount will be reported immediately following the business combination for each of the following items in the combined company's balance sheet? Note: Use cells A2 to B26 from the given information to complete this question. a. Common Stock F 280000 b. Cash and Recevables 190000 c. Land F 150000 d. Buildings and Equipment (Net) F 460000 e. Goodwill 0 f. Additional Paid-In-Capital F 340000 g. Retained Earnings 330000
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