On january 2 2013 miller properties paid 28 million for 1, Ask an Expert

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On January 2, 2013, Miller Properties paid $28 million for 1 million shares of Marlon Company's 6 million outstanding common shares. Miller's CEO became a member of Marlon's board of directors during the first quarter of 2013.

The carrying amount of Marlon's net assets was $117 million. Miller estimated the fair value of those net assets to be the same except for a patent valued at $36 million above cost. The remaining amortization period for the patent is 10 years.

Marlon reported earnings of $54 million and paid dividends of $6 million during 2013. On December 31, 2013, Marlon's common stock was trading on the NYSE at $27.5 per share.

a) Income statement total?
b) Balance sheet total?
c) Operating cash flow total? Investing cash flow total?

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Category:- Basic Finance
Reference No.:- M9792502

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