Question: On May 3 1 , 2 0 2 6 , Sheridan Company paid $ 3 , 7 4 5 , 0 0 0 to acquire

On May

31, 2026,

Sheridan Company paid $

3, 745, 000

to acquire all of the common stock of Sunland Corporation, which became a division of Sheridan. Sunland reported the following balance sheet at the time of the acquisition:

\

table

[[

Current assets,$

963, 000,

Cerrent liabilities,$

642, 000

On May 31,2026, Sheridan Company paid $3,745,000 to acquire all of

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