Question: Please use the information below to answer parts a, b and c. Grande Inc. acquired 100% of the voting common stock of Petite Inc. on

Please use the information below to answer parts a, b and c. Grande Inc. acquired 100% of the voting common stock of Petite Inc. on January 1, 2022. The book value and fair value of Petites accounts on that date (prior to creating the combination) are as follows, along with the book value of Grandes accounts:

	Grande Book Value	Petite Book Value	Petite Fair Value
Cash and receivables	280,000	135,000	135,000
Inventory	340,000	190,000	175,000
Land	490,000	300,000	330,000
Buildings (net)	830,000	350,000	340,000
Equipment (net)	655,000	115,000	110,000
Liabilities	900,000	430,000	410,000
Common stock	580,000	180,000
Additional paid-in capital	730,000	250,000
Retained earnings, 1/1/22	385,000	230,000

Assume that Grande issued 15,000 shares of common stock, with a $5 par value and a $54 fair value, to obtain all of Petites outstanding stock. Please note that it would be easier to solve this problem assuming Grande dissolves Petite so that Petite is no longer a separate entity. A. In this acquisition transaction, how much goodwill should be recognized?

B. What will be the Jan 1, 2022 balance in consolidated Common Stock account after the acquisition is completed?

C. What will be the Jan 1, 2022 balance in consolidated Total Assets after the acquisition is completed?

THE ABOVE INFORMATION WAS ALL THAT WAS GIVEN. Please show work and highlight answer. PLEASE COMPLETE ALL PARTS AS IT IS A COMPOUNDING QUESTION and as part of Chegg's guidelines, compounding questions must be answered up to 4 parts.

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