OK I get it. The actual acquisition transaction doesn’t affect the income statement. Credit cash, debit assets. Doesn’t affect the income statement.
Cool. I was hoping they didn’t smoke our profit sharing by doing that.
EDIT: Nope, not quite. I cracked open my accounting book and now I think I’ve got it. It will show up, but like you said there will be an equal gain and loss of assets so there will be no net effect.