Francisco inc. acquired 100 percent of the voting shares of beltran company on january 1, 2017. in exchange, francisco paid $815,000 in cash and issued 115,000 shares of its own $1 par value common stock. on this date, francisco’s stock had a fair value of $12 per share. the combination is a statutory merger with beltran subsequently dissolved as a legal corporation. beltran’s assets and liabilities are assigned to a new reporting unit. the following reports the fair values for the beltran reporting unit for january 1, 2017, and december 31, 2018, along with their respective book values on december 31, 2018.reporting unit fair values 1/1/17 fair values12/31/18 book values12/31/18cash $125,500 $79,500 $79,500 receivables 308,750 348,000 348,000 inventory 264,250 310,000 302,900 patents 623,500 740,000 593,500 customer relationships 674,750 636,000 595,750 equipment (net) 394,500 290,000 282,550 goodwill ? ? 580,000 accounts payable (172,500 ) (260,000 ) (260,000 )long-term liabilities (510,500 ) (412,000 ) (412,000 )a. prepare fransicso's journal entry to record the assets acquired and the liabilities assumed in the beltran merger o 1/1/17.cash receivables inventory patents customer relationships equipment goodwill accounts payable long term liabilities cash common stock apic

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.