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Business, 19.09.2019 22:00 blue5488

Pickle corporation issued nonvoting preferred stock with a fair market value of $4,000,000 in exchange for all the outstanding common stock of sickle corporation. on the date of the exchange, sickle had tangible net assets with a book value of $2,000,000 and a fair value of $2,500,000. in addition, pickle issued preferred stock valued at $400,000 to an individual as a finder’s fee in arranging the transaction. as a result of this transaction, pickle should record an increase in net assets of

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Pickle corporation issued nonvoting preferred stock with a fair market value of $4,000,000 in exchan...
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