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Condensed Balance sheet for Ayayai Company and blossom Company on January 1 2023 , are as follow:
Current assets $198,000 $93,500
Plant and equipment (net)- $495,000 $154,000
Total assets $693,000 $247,5000
Total inabilities $104500 $38,500 Common stock
$10 par value $385,000 $176,000
Other contributed capital $137,500 $58,300
Retained earnings (deficit) $66,000 (25,300)
Total liabilities and equities $693,000 247,500
On January 1 2023 the stockholder of ayayai and blossom agreed to a consolidation. Because FASB require that one part be recognized
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