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You received no credit for this question in the previous attempt Use the following information for Problems 17-21 On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows: t assets $ 87,750 assets 49,500 s 196,75e 64,250 758 14,25e 5e.000 Total assets Long-term debt Stockholders' equity Total liabilities and equities 60,ee0 S 196,750 On January 2, Park borrowed $64,800 and used the proceeds to obtain 80 percent of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strand's total fair value. The $64,800 debt is payable in 10 equal annual principal payments, plus interest, beginning December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (40 percent) Problem 4-19 (LO 4-2) On a consolidated balance sheet as of January 2, what should be the amount for current liabilities? Prev 19 20 21 ot24 ll Next >
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