On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe...

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On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe issued 200,000 shares of its $10 par common stock, with a market price of $18 a share. for all of Saxe's common stock. The stockholders' equity section of each company's balance sheet immediately before the combination was: Common Stock Poe $ 3,000,000 1,300,000 2,500,000 Saxe $ 1,500,000 150,000 850,000 Additional Paid-In Capital Retained Earnings $ 6,800,000 $ 2,500,000 In the December 31, 20X3, combined balance sheet, additional paid-in capital should be reported at On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe issued 200,000 shares of its $10 par common stock, with a market price of $18 a share. for all of Saxe's common stock. The stockholders' equity section of each company's balance sheet immediately before the combination was: Common Stock Poe $ 3,000,000 1,300,000 2,500,000 Saxe $ 1,500,000 150,000 850,000 Additional Paid-In Capital Retained Earnings $ 6,800,000 $ 2,500,000 In the December 31, 20X3, combined balance sheet, additional paid-in capital should be reported at

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