HE FOL LOWING INFORMATION TO ANSWER THE NEXT a nuESTIONS: On vecember 1, 2021, Angel Inc. acquired all of the assets and liabilities of Trout Co. which will cease to exist as a separate entity, by paying $200,000 cash and issuing 20,000 shares of common stock having a S3 par value and a $40 fair value per share. Angel also agreed to pay the former owners of Trout Corp. an additional $100,000 if they meet certain revenue goals during the next two years. The estimated present valu of this probability adjusted expected payment is $35,000. Stock issuance costs amounted to $15,000. 4) The journal entry Angel Inc. prepares to record the acquisition includes a DEBIT to: A. Land for $800,000 B. Expenses for $264,000 C. Investment in Trout for $1,180,000 D. Inventory for $240,000 E. None of the above 5) The total fair value of the consideration given by Angel is: A. $1,020,000 B. $1,100,000 C. $1,000,000 D. $1,035,000 E None of the above 6) If the fair value of consideration given was less than the fair value of the net assets received. Ange/ would: A. Credit "Goodwill" B. Debit "Goodwill" C. Credit "Gain on Bargain Purchase" D. Debit "Gain on Bargain Purchase" E. None of the above