Question: In the previous problem, suppose the fair market value of Jamess fixed assets is $i,000 versus the $8,900 book value shown. Jurion pays $23,000 for

In the previous problem, suppose the fair market value of James’s fixed assets is $i,000 versus the $8,900 book value shown. Jurion pays $23,000 for James and raises the needed funds through an issue of long-term debt. Construct the postmerger balance sheet now, assuming that the purchase method of accounting is used.

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