1. On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe issued 200,000 shares of its $10 par common stock, with a market price of $18 a share, for all of Saxe's common stock. The stockholders' equity section of each company's balance sheet immediately before the combination was: Poe $ 3,000,000 1,300,000 2,500,000 $ 6,800,000 $ 2,500,000 In the December 31, 20X3, combined balance sheet, additional paid-in capital should be reported at: Saxe $ 1,500,000 Common Stock Additional Paid-In Capital Retained Earnings 150,000 850,000
1. On December 31,203, Saxe Corporation was merged into Poe Corporation, In the business combinotion, Poe issued 200,000 shares of its $10 par common stock, with a market price of $18 a share, for all of Saxe's common stock. The stockholders' equity section of each company's balance sheet immediately before the combination was: In the December 31,203, combined balance sheet, additional paid-in capital should be reported at 
