Top Corporation acquired 100% of Sun Corporation's common stock on December 31, 2002. Balance sheet data for the two companies immediately following the acquisition is Item Top $49,000 110.000 Sun $30,000 45,000 70,000 25,000 400,000 (165,000) Cash Accounts Receivable Inventory 130,000 Land 80,000 500,000 (223,000) 198,000 $844,000 $61,500 95,000 Buildings & Equipment Less: Acc Depr Investment in Sun Total Assets $405,000 $28,000 37,000 200,000 50,000 …
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