Assume that the following balance sheets are stated at book value. The fair market value of James fixed assets is equal to the book value. Jurion pays $15,000 for James and raises the needed funds through an issue of long-term debt. Construct a postmerger balance sheet assuming that Jurion Co. purchases James, Inc., and the purchase method of accounting is used.

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Jurion Co. Current assets Net fixed assets $18,000 33,000 Long-term debt Equity Current liabilities5,100 9,300 36,600 $51,000 Total $51,000 Total James, Inc. Current assets Net fixed assets $3,500 8,900 Current liabilities Long-term debt Equity $2,100 1,400 Total $12,400 Total $12,400