The Following Consolidated Financial Statement Was Prepared Immediately Following the Acquisition

Essay

The following consolidated financial statement was prepared immediately following the acquisition of Salt, Inc. by Pepper Co.
Answer the following based upon the above financial statements:
a.How much did Pepper Co. pay to acquire Salt Inc.?
b.What was the fair value of Salt's Inventory at the time of acquisition?
c.Was the book value of Salt's Building and Equipment overvalued or undervalued relative to the Building and Equipment's fair value at the time of acquisition?