On January 1,2008,Alaska Corporation acquired Mercantile Corporation's net assets by paying $160,000 cash.Balance sheet data for the two companies and fair value information for Mercantile Corporation immediately before the business combination are given below:
Required:
Prepare a combined balance sheet immediately following the acquisition.

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The Answer of On January 1,2008,Alaska Corporation acquired Mercantile Corporation's net assets by paying $160,000 cash.Balance sheet data for the two companies and fair value information for Mercantile Corporation immediately before the business combination are given below:
Required:
Prepare a combined balance sheet immediately following the acquisition.

On January 1,2008,Alaska Corporation Acquired Mercantile Corporation's Net Assets by Paying