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Presented below are the financial balances for the Atwood Company and the Franz Company as of December 31, 2011, immediately before Atwood acquired...
Presented below are the financial balances for the Atwood Company and the Franz Company as of December 31, 2011, immediately before Atwood acquired Franz. Also included are the fair values for Franz Company's net assets.Franz Co.all amounts in thousandsfair valueDec.31$240600580250650400( 240)60)(1,120)common stock(20par) (1,980)( 420)additional paid in cap. (210) ( 180)(1,170) ( 480)(2,880) ( 660)620 Note: Parenthesis indicate a credit balanceAssume an aquisition business combination took place at December 31, 2011. Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid. A) Compute the investment to be recorded at date of acquisition. B) Compute consolidated common stock at date of acquisition. C) Compute consolidated inventory at date of acquisition. D) Compute consolidated land at date of acquisition. E) Compute consolidated buildings (net) at date of acquisition. F) Compute consolidated long-term liabilities at date of acquisition. Please show how you work each of the steps. Thanks!