REFERENCE: Ref.02_01 Bullen Inc.assumed 100% Control Over Vicker Inc.on January 1,20X1.The Book

Multiple Choice

REFERENCE: Ref.02_01
Bullen Inc.assumed 100% control over Vicker Inc.on January 1,20X1.The book value and fair value of Vicker's accounts on that date (prior to creating the combination) follow,along with the book value of Bullen's accounts:

-Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $42 fair value for all of the outstanding shares of Vicker.What will be the consolidated Additional Paid-In Capital and Retained Earnings (January 1,20X1 balances) as a result of this transaction (which is not a pooling of interests) ?

A) $20,000 and $160,000.
B) $20,000 and $260,000.
C) $380,000 and $160,000.
D) $464,000 and $160,000.
E) $380,000 and $260,000.