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What is the result of business combination

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Reference no: EM132997193

Question - Lucky Co. is offered 200,000 shares of Pacino Inc in exchange for its net assets. Pacino Inc share capital has a market value of P 11 per share. The offer is accepted. The statement of financial position of the two companies (in thousand pesos) are presented below:

Pacino. Inc. Lucky Co.

Total Assets 1,097.50 1,733.25

Total Liabilities 312.50 383.25

Ordinary share capital, P 1 par, 800,000

Shares issued and outstanding 800,000

Ordinary share capital, no par, 2,500

Shares issued and outstanding 25.00

Retained earnings (15.00) 1,325.00

Total Liabilities & shareholder's equity 1,097.50 1,733.25

Required - What is the result of business combination?

A. 850,000

B. 875,000

C. 0

D. 1,415,000

Reference no: EM132997193

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