Pot inc. acquired all seed inc.'s outstanding $25 par common stock on december 31, 20x3, in exchange for 40,000 shares of its $25 par common stock. pot's common stock closed at $56.50 per share on a national stock exchange on december 31, 20x3. both corporations continued to operate as separate businesses maintaining separate accounting records with years ending december 31. on december 31, 20x4, after year-end adjustments and the closing of nominal accounts, the companies had condensed balance sheet accounts.