The Financial Statements for Goodwin, Inc

question 71

Multiple Choice

The financial statements for Goodwin, Inc., and Corr Company for the year ended December 31, 20X1, prior to Goodwin's acquisition business combination transaction regarding Corr, follow (in thousands) : On December 31, 20X1, Goodwin issued $600 in debt and 30 shares of its $10 par value common stock to the owners of Corr to acquire all of the outstanding shares of that company. Goodwin shares had a fair value of $40 per share. Goodwin paid $25 to a broker for arranging the transaction. Goodwin paid $35 in stock issuance costs. Corr's equipment was actually worth $1,400 but its buildings were only valued at $560.
Compute the consolidated expenses for 20X1.

• A) $1,980.
• B) $2,005.
• C) $2,040.
• D) $2,380.
• E) $2,405.

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Definitions:

Limited Distribution

A strategic choice by a company to offer its products or services at a select few outlets, often to maintain exclusivity or control over the brand image.

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Derived Demand

Demand for a product or service that arises from the demand for another product or service.