Schenk Corporation’s balance sheet immediately prior to its acquisition by Piaget Company is as follows: Schenk Corporation (in thousands) Book Value Fair Value Assets Current assets $3,000 $2,500 Plant & equipment, net 24,000 15,000 Total assets $27,000 Liabilities & Equity Current liabilities $3,220 3,220 Long-term liabilities 20,000 19,800 Common stock 60 Additional paid-in capital 3,400 Treasury stock -500 Retained earnings 900 AOCI -80 Total liabilities & equity $27,000 In addition to the a

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a Max receives 30 of valuation 30 x 35 mil105 mil loses on his 3 million investment Sam receives 70 ... View the full answer