Chapter 2 Homework 0 14 10 pomu eBook an Reyences HI" Saved Help Save Kc Exit Submit Check my work On February 'I, Piscina Corporation completed a combination with Swimwear Company. At that date, Swimwear's - account balances were as follows: Inventory $ Land Buildings Unpatented technology Common stock (516 par value) Retained earnings, 1/1 Revenues Expenses Book Values 795,669 616,669 996,669 6 (756,669) (1,447,666) (646,669) 546,669 Fair Values $ 849,696 914,696 1,964,696 1,546,666 Piscina issued 30,000 shares of its common stock with a par value of $25 and a fair value of $170 per share to the owners of Swimwear for all of their Swimwear shares, Upon completion of the combination, Swimwear Company was formally dissolved. Prior to 2002, business combinations were accounted for using either purchase or pooling of interests accounting. The two methods often produced substantially different financial statement effects. For the scenario above, a. What are the respective consolidated values for Swimwear's assets under the pooling method and the purchase method? b. Under each ofthe following methods, how would Piscina account for Swimwear's current year, but prior to acquisition, revenues and expenses? Mc Graw HillChapter 2 Homework 0 Saved Help Save 8- Exit Submit Check my work 14 b. Under each of the following methods, how would Piscina account for Swimwear's current year, but prior to A acquisition, revenues and expenses? - Pooling ofinterests method. 10 - Purchase method. points eBook Complete this question by entering your answers in the tabs below. Print References Required A Required B Under each of the following methods, how would Piscina account for Swimwear's current year, but prior to acquisition, revenues and expenses? Pooling of interests method Purchase method