At the beginning of 2020, MARY Corporation had $500,000 in stockholders' equity, which was made up...

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At the beginning of 2020, MARY Corporation had $500,000 in stockholders' equity, which was made up of the following: CAPITAL stock $10 par (40,000 shares outstanding) 400,000$ Additional paid-in capital of $50,000 50,000$ in retained earnings 500,000 $in total stockholders' equity For $450,000, JENNY Corporation agreed to sell MARY Corporation 20,000 shares of previously unissued stock on January 1, 2020. and liabilities were recorded at fair values on this date. jenny Corporation reported net profits of $100,000 and dividend payments of $80,000 for 2020. undervalued, all of jenny identified assets remaining useful life that was $30k Except for an equipment with a 5-year 1- What is the acquisition rate of mary in jenny? 2. How much does marys interest in jenny including goodwill, cost? 3. Prepare the journal entries for the reception of income and dividends and determine the value of mary's investment in jenny at December 31st 2020? At the beginning of 2020, MARY Corporation had $500,000 in stockholders' equity, which was made up of the following: CAPITAL stock $10 par (40,000 shares outstanding) 400,000$ Additional paid-in capital of $50,000 50,000$ in retained earnings 500,000 $in total stockholders' equity For $450,000, JENNY Corporation agreed to sell MARY Corporation 20,000 shares of previously unissued stock on January 1, 2020. and liabilities were recorded at fair values on this date. jenny Corporation reported net profits of $100,000 and dividend payments of $80,000 for 2020. undervalued, all of jenny identified assets remaining useful life that was $30k Except for an equipment with a 5-year 1- What is the acquisition rate of mary in jenny? 2. How much does marys interest in jenny including goodwill, cost? 3. Prepare the journal entries for the reception of income and dividends and determine the value of mary's investment in jenny at December 31st 2020?