Elm Corporation and Maple Company have announced terms of an exchange agreement under which Elm will issue 8,000 shares of its $10 par value common stock to acquire all of Maple Company’s assets. Elm...

Elm Corporation and Maple Company have announced terms of an exchange agreement under which Elm will issue 8,000 shares of its $10 par value common stock to acquire all of Maple Company’s assets. Elm shares currently are trading at $50, and Maple $5 par value shares are trading at $18 each. Historical cost and fair value balance sheet data on January 1, 20X2, are as follows:
Required What amount will be reported immediately following the business combination for each of the following items in the combined company’s balance sheet? a. Common Stock. b. Cash and Receivables. c. Land. d. Buildings and Equipment (net). e. Goodwill. f. Additional Paid-In Capital. g. RetainedEarnings.