Angela Corporation (a private company) acquired all of the for $9,000,000 in cash. At the acquisition...

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Angela Corporation (a private company) acquired all of the for $9,000,000 in cash. At the acquisition date, Eddy Tech $3,000,000. At the acquisition date, Angela prepared the following fair Consideration transferred Eddy's stockholder's equity Excess fair over book value to patented technology (5-year remaining life) to trade names (indefinite remaining life) to equipment (8-year remaining life) Goodwill At the end of 2021, Angela and Eddy Tech report the follow consideration of their parent-subsidiary relationship. Parent Sales Cost of goods sold Depreciation expense Amortization expense Other operating expenses Net income Angela $ (7,850,000) 4,200,000 425,000 250,000 75,000 $ (2,900,000) $ $ < Prev Angela Corporation (a private company) acquired all of the for $9,000,000 in cash. At the acquisition date, Eddy Tech $3,000,000. At the acquisition date, Angela prepared the following fair Consideration transferred Eddy's stockholder's equity Excess fair over book value to patented technology (5-year remaining life) to trade names (indefinite remaining life) to equipment (8-year remaining life) Goodwill At the end of 2021, Angela and Eddy Tech report the follow consideration of their parent-subsidiary relationship. Parent Sales Cost of goods sold Depreciation expense Amortization expense Other operating expenses Net income Angela $ (7,850,000) 4,200,000 425,000 250,000 75,000 $ (2,900,000) $ $ < Prev