On September 1, 2014, Sunshine Ltd. acquired all the assets (with the exception of cash) and liabilities of Moonbeam Ltd. Under the terms of acquisition, Moonbeam shareholders received 3 Class A Sunshine Ltd. shares plus $2.00 cash for every four shares of Moonbeam. At the acquisition date, Sunshine's Class A shares were valued at $2.50 per share. Sunshine had agreed to cover Moonbeam's estimated liquidation costs of $10,000. The $1,500 of cash in Moonbeam's bank at the acquisition date will go towards paying these costs. The statements of financial position at the acquisition date are as follows:

Items not reflected in Moonbeam's statement of financial position:
Contingent liability related to a loan guarantee was reported in the notes to the financial statements and has a fair value of $2,000.
Moonbeam had expensed $15,000 in research and development costs in the past year. At the acquisition date, Sunshine has determined that the value of the research in progress is $3,000.
Sunshine's statement of financial position does not include $5,000 in fees for valuation and accounting advice related to the acquisition of Moonbeam. Sunshine expects to pay these fees shortly.
Required:
1. Prepare the acquisition analysis and calculate the goodwill.
2. Prepare all the journal entries in Sunshine's books to record the acquisition of Moonbeam.
3. Prepare Sunshine's statement of financial position immediately following the acquisition.

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Sunshine Moonbeam Ltd. Ltd. Cost FMV Cash Accounts receivable Inventory Property and equipment (net) Kucey Ltd. bonds (investment) $30,000 S 1,500 1,500 28,500 52,500 26,250 78,000 449,250 67,500 39,750 224,250 248,250 27,000 28,500 321,000 114,000 114,000 48,000 677,250 117000 Accounts payable Loan payable 60,000 60,000 117,000 174,000 450,000 Share capital issued at $1 Retained earnin 120,000 gs 110,250 27,000 147,000 S 677,250 321,000 560,250