Elm Corporation and Maple Company have announced terms of an exchange agreement under which Elm will issue 8,000 shares of its $10 par value common stock to acquire all of Maple Company€™s assets. Elm shares currently are trading at $50, and Maple $5 par value shares are trading at $18 each. Historical cost and fair value balance sheet data on January 1, 20X2, are as follows:

Required
What amount will be reported immediately following the business combination for each of the following items in the combined company€™s balance sheet?
a. Common Stock.
b. Cash and Receivables.
c. Land.
d. Buildings and Equipment (net).
e. Goodwill.
f. Additional Paid-In Capital.
g. RetainedEarnings.

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Elm Corporation Balance Sheet item Cash & Recevables and Buildings & Equitpment (net) Total Assets Common Stock Addtional Pald-In Capita Retaned Earnings Total Equities Book Value Fair Value Book Value Falr Value $150,000 $150,000 170,000 85,000 230,000 160,000 $200,000 20,000 330,000 $550,000 $100,000 10,000 140,000 $250,000