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Current assets
$ 97,500
Buildings & equipment (net)
224,500
Total assets
$ 322,000
Liabilities
$ 51,500
Common stock
150,000
Retained earnings
120,500
Total liabilities and equities
On May 1. Beasley paid $445.300 in stock (fair value) for all of the assets and liabilities of Donovan. which will cease to exist as a separate entity. In connection with the merger, Beasley incurred $21,100 in accounts payable for legal and accounting fees.
Point 1: Donovan holds a building with a fair value $37,400 more than its book value.
Point 2: Donovan has developed unpatented technology appraised at $32.500, although is it not recorded in its financial records.
Point 3: Donovan has a research and development activity in process with an appraised fair value of $47,100. The project has not yet reached technological feasibility.
Point 4: Book values for Donovan's current assets and liabilities approximate fair values.Question 1: How much should Beasley record as total assets acquired in the Donovan merger?
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