On October 1st 2006 , Plateau acquired 3mil out of 4mil equity shares in Savannah by an exchange of one share in Plateau for every two share in Savannah plus $1.24 per share acquired in Savannah for cash. The market price of each share acquired was $6. NCI valued at acquisition was $3.25mil. Fair value of *** assets at acquisition was $10mil. Professional fees of $500000 were incurred in the process. Show how the above transaction would reflect in the consolidated financial statement
