The separate condensed balance sheets of Patrick Corporation
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WEBOn December 31, 2020, Patrick acquired 100 percent of Sean’s voting stock in exchange for$460,000. At the acquisition date, the fair values of Sean’s assets and liabilities equaled their carrying amounts, respectively, except that the fair value of certain items in Sean’s inventory were $25,000 more than their carrying amounts.
DA: 91 PA: 28 MOZ Rank: 38