On January 1, 20X1, Alpha Corporation acquired all of Bravo Company’s assets and liabilities by…

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On January 1, 20X1, Alpha Corporation acquired all of Bravo Company’s assets and liabilities by issuing shares of its $3 par value stock to the owners of Bravo Company in a business combination. Alpha also made a cash payment to Banker Corporation for stock issue costs. Partial balance sheet data for Alpha and Bravo, before the cash payment and issuance of shares, and a combined balance sheet following the business combination are as follows: Required a. What number of its $5 par value shares did Bravo have outstanding at January 1, 20X1? b. Assuming that all of Bravo’s shares were issued when the company was started, what was the price per share received at the time of issue? c. How many shares of Alpha were issued at the date of combination? d. What amount of cash did Alpha pay as stock issue costs? e. What was the total market value of Alpha’s shares issued at the date of combination? f. What was the fair value of Bravo’s inventory at the date of combination? g. What was the fair value of Bravo’s net assets at the date of combination? h. What amount of goodwill, if any, will be reported in the combined balance sheet following thecombination?

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