On January Patrick Company purchased of the common stock of Solomon Company for $ On this date, Solomon had common stock, other paidin capital, and retained earnings of $$ and $ respectively,
On January the only tangible asset of Solomon that was undervalued was land, which was worth $ more than book value.
On January Patrick Company purchased an additional of the common stock of Solomon Company for $
Net income and dividends for years for Solomon Company were:
tableNet income for year,Dividends paidin December,$$
