What amount must reflect a bargain purchase gain

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Question - Acquirer Corporation acquired for cash at $8 per share, all 100,000 shares of the outstanding common stock of Acquiree Company. The total fair value of the identifiable assets acquired minus the fair value of liabilities assumed of Acquiree was $1,202,000 million on the acquisition date, including the fair value of its property, plant, and equipment (its only noncurrent asset) of $447,000. The consolidated financial statements of Acquirer Corporation and its wholly owned subsidiary at the date of acquisition must reflect a bargain purchase gain of what amount?

Reference no: EM132652640

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