Exercises $=$ CAP $1$

On January $2,2023,$ Palter Company issued $80,000$ new shares of its $$5$ par value common stock valued at $$12$ a share for all Sudan Corporation's outstanding common shares. Palter paid $$5,000$ for the direct combination costs of the accountants. Palter paid $$18,000$ to register and issue shares. The fair value and book value of Sudan's identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January $2,2023,$ is as follows:

$\backslash$table$[[,$Palter,Sudan$],[$Cash$,$$$75,000,$$$60,000$