Consider the following premerger information about Firm X and Firm Y: ...
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Accounting
Consider the following premerger information about Firm X and Firm Y:
Firm X
Firm Y
Total earnings
$
80,000
$
14,500
Shares outstanding
37,000
12,000
Per-share values:
Market
$
52
$
17
Book
$
12
$
7
Assume that Firm X acquires Firm Y by paying cash for all the shares outstanding at a merger premium of $7 per share, and that neither firm has any debt before or after the merger. Construct the postmerger balance sheet for Firm X assuming the use of the purchase accounting method. (Do not round intermediate calculations.)
Assets from X $______
Assets from Y $_______
Goodwill $_______
Total Assets XY $______
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