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On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below:
Use the following information to answer question(s) below. On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below: -What amount of total liabilities will be reported? A) $206,000 B) $278,400 C) $319,600 D) $348,000 Use the following information to answer question(s) below. On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below: -What amount of total liabilities will be reported? A) $206,000 B) $278,400 C) $319,600 D) $348,000
-What amount of total liabilities will be reported?


A) $206,000
B) $278,400
C) $319,600
D) $348,000

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