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s4.ebalqa.courses 16 On December 31, Hana Co. pays JD220,000 cash for all of Ahmad's common stock in a merger. Ahmad's assets and liabilities equaled their fair values except for Inventory is overvalued by JD40,000. Required: - Using the acquisition method: ( 1- What is the purchase price in this combination? 6 ) purchase price 2- Determine the goodwill account as of the takeover, (if any)? goodwill 3- Determine the following account balances as of December 31: a. Cash (Hana's post-merger). Cash b. Common Stock (Hana's post-merger). Common stock c. Inventory account (Hana's post-merger). Inventory des latis bib s4.ebalqa.courses Following are the account balances of Hana Company and Ahmad Company as of December 31: Hana Co. Book Val. Ahmad Co. Book Val. Cash 250,000 100,000 Inventory 150,000 170,000 Total assets 400,000 270,000 Accounts payable 150,000 100,000 170,000 100,000 Common stock Additional paid-in capital 40,000 50,000 Retained earnings 40,000 20,000 400,000 270,000 Total liabilities and equities Additional Information (not reflected in the preceding figures) On December 31, Hana Co. pays JD220,000 cash for all of Ahmad's common stock in a merger. Ahmad's assets and liabilities equaled their fair values except for Inventory is overvalued by JD40,000. Required: - Using the acquisition method: 6 ) 1 - What is the purchase price in this combination? 6 ) purchase price