Michangelo Co. paid accountants and lawyers $100,000 in order to acquire Florence Company. Michangelo will treat the $100,000: an expense for the current year. a prior period adjustment to retained earnings. additional cost to investment of Florence on the consolidated balance sheet. a reduction in paid-in capital

Michangelo Co. paid accountants and lawyers $100,000 in order to acquire Florence Company. Michangelo will treat the $100,000:

an expense for the current year.

a prior period adjustment to retained earnings.

additional cost to investment of Florence on the consolidated balance sheet.

a reduction in paid-in capital

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