parent inc. acquired 100 percent of the voting shares of subsidiary company on january 1, 2020. in exchange, parent paid $351,250 in cash and issued 100,000 shares of its own $1 par value common stock. on this date, parent’s stock had a fair value of $15 per share. the combination is a statutory merger with subsidiary subsequently dissolved as a legal corporation. subsidiary’s assets and liabilities are assigned to a new reporting unit under the parent company.