Question 19 Prepare Journal entries and balance sheet under push-down accounting Book values and fair values of St Corporation's assets and liabilities on December 31, 2010, are as follows in thousands Hook Value Fair Valur Cash $140 $ 140 Accounts receivable et 160 Inventories 160 200 Land 300 400 Buildings- 1.000 Equipment-net 4.40 6:00 $1.900 $2.500 Accounts payable $ 200 $ 200 Note payable 280 300 Capital stock 1.000 Retained caring 420 $1.900 160 200 CHAPTER 3 On January 1, 2011. Par Corporation acquired all of Ses capital stock for $2.500.000 cast. The acquisition is recorded using push-down accounting REQUIRED 1. Prepare the January 1 journal entry on St's books to record pub down values 2. Prepare a balance sheet for Sl Corporation immediately after the acquisition mary I nderus dows accounting Edit View Insert Format Tools Table 12pt Paragraph BI y A2 T2