AT THE ACQUISITION DATE, THE STOCK WAS TRADING AT $50 PER SHARE. ADDITIONALLY.HIRAM PAID $10,000 TO SANDLER O’NEAL TO REPRESENT YOUR ANANLYSIS OF TERRIER’S ASSETS AND TERRIER PREPARE THE JOURNAL ENTRY TO RECORD THE ABOVE PURCHASE, IF YOU DECIDE TO KEEP TERRIER AS A SEPARATE ENTITY. DETERMINE THE AMOUNT OF THE EXCESS PURCHASE PRICE AND HOW THE EXCESS IS ALLOCATED NET INCOME $230,000 $150,000 TOTAL ASSETS $2,900,000 $975,000 TOTAL LIABILITIES AND EQUITY $2,900,000 $975,000 HOW DO YOU KNOW?
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