Consider the following premerger information about Firm X and Firm Y:
Firm X Firm Y
Total ea...
Business, 06.04.2021 05:00, claudia122752
Consider the following premerger information about Firm X and Firm Y:
Firm X Firm Y
Total earnings $96,000 $22,500
Shares outstanding 53,000 18,000
Per-share values:
Market $53 $18
Book $14 $8
Assume that Firm X acquires Firm Y by issuing long-term debt to purchases all the shares outstanding at a merger premium of $5 per share. Construct the post-merger balance sheet for Firm X assuming the use of the purchase accounting method.
Answers: 1
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