The Financial Statement Amounts for the Atwood Company and the Franz

question 24

Multiple Choice

The financial statement amounts for the Atwood Company and the Franz Company as of December 31, 2021, are presented below. Also included are the fair values for Franz Company's net assets (all numbers are in thousands) . Note: Parenthesis indicate a credit balanceAssume an acquisition business combination took place at December 31, 2021. Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid.Compute consolidated retained earnings at the date of the acquisition.

• A)$1,160.
• B)$1,170.
• C)$1,280.
• D)$1,290.
• E)$1,640.

---

Definitions:

Inches

A unit of length in the imperial and US customary systems, equal to 1/12 of a foot or exactly 2.54 centimeters.

Online Social Network

A platform on the internet where users can connect, share, and communicate with each other.

Online Community

An online Community refers to a group of people who interact through the internet, sharing common interests or goals.

Interests

Interests are the subjects or activities that attract the attention and curiosity of a person, leading them to learn more about them or become involved.