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What is the fair value of LLs net assets

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Question - On October 2, 2019, BB Corp acquired the nets assets of LL Inc., by issuing 600,000 shares at 10 par value common stock. Subsequently, LL was liquidated an its assets and liabilities merged into BB Corp. The market value of BB's stock is 50 per share at the same date. The amount of goodwill recorded by BB in connection with the combination was 6,120,000. BB incurred 300,000 of legal and broker's fee associated with the combination and 30,000 of stock issuance cost. What is the fair value of LL's net assets and the amount of the increase in BB's stockholders equity as a result of the combination?

Reference no: EM132633431

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