Glant acqulred all of Small's common stock on January In exchange for cash of $ On that day. Small reported common stock of $ and retalned earnings of $ At the acquisition date, $ of the falrvalue price was attributed to undervalued land while $ was assigned to undervalued equipment having a year remaining life. The $ unallocated portion of the acquisitiondate excess falr value over book value was vlewed as goodwill. Over the next few years, Glant applied the equlty method to the recording of this Investment.
The following are Individual financlal statements for the year ending December On that date, Small owes Glant $ Small declared and paid dividends in the same period. Credits are indicated by parentheses.
tableAccountsGiant,SnaRevenues$$
