Prior to being united in a business combination, Botkins Inc. and Volkerson Corp. had the following stockholders' equity figures:
Botkins issued 56,000 new shares of its common stock valued at $3.25 per share for all of the outstanding stock of Volkerson.
Assume that Botkins acquired Volkerson on January 1, 2010. At what amount did Botkins record the investment in Volkerson?
Definitions:
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An organization established for philanthropic rather than profit-making purposes, benefiting the public or a particular social cause.
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Monetary gifts made by individuals or organizations to entities such as companies, nonprofits, or trusts, often for specific purposes or projects.
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