On January Park Corporation and Strand Corporation had condensed balance sheets as follows:
Items Park Strand
Current assets $ $
Noncurrent assets
Total assets $ $
Current liabilities $ $
Longterm debt
Stockholders' equity
Total liabilities and equities $ $
On January Park borrowed $ and used the proceeds to obtain percent of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strands total fair value. The $ debt is payable in equal annual principal payments, plus interest, beginning December The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory percent and to goodwill percent
Required:
On a consolidated balance sheet as of January calculate the amounts for each of the following:
a current assets
b noncurrent assets
c current liabilities
d non current liabilities
e stockholders equity
