Tyrol Company creates a subsidiary, Venice Company. Tyrol transfers cash of $50,000, land with both a cost and book value of $175,000, and a building with a cost of $150,000 and a book value of $100,000 to Venice, in exchange for all 500,000 shares
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Flo's Flowers has annual sales of $61,888, depreciation of $8,100, interest paid of $970, cost of goods sold of $29,400, taxes of $4,918, and dividends paid of $4,810. The firm has total assets of $105,300 and total debt of $51,600.
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