The following financial statement information was prepared for Blue Corporation and Sparse Company at December \(31,20 \times 2\) :

Blue Corporation and Sparse Company agreed to combine as of January 1, 20X3. In completing the merger, Blue Corporation paid finder's fees of \(\$ 30,000\), audit fees of \(\$ 15,000\), legal fees of \(\$ 24,000\), stock registration fees of \(\$ 8,000\), and stock listing application fees of \(\$ 6,000\).
At January 1, 20X3, the book values of Sparse Company's assets and liabilities approximated market value except for inventory with a market value of \(\$ 200,000\), equipment with a market value of \(\$ 350,000\), and bonds payable with a market value of \(\$ 105,000\). All assets and liabilities were immediately recorded on the books of Blue Corporation.
\section*{Required}
Give all journal entries recorded by Blue Corporation assuming Blue Corporation issued 40,000 shares of its \(\$ 8\) par value common stock to acquire all the assets and liabilities of Sparse in a business combination recorded as a pooling of interests. Blue Corporation common stock was trading at \(\$ 14\) per share on January 1, 20X3.

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Cash Accounts Receivable Inventory Land Balance Sheets December 31, 20X2 Blue Corporation $ 140,000 170.000 250.000 Sparse Company $ 70,000 110,000 180,000 80,000 100,000 Buildings and Equipment $680,000 $450,000 Less: Accumulated Depreciation (320,000) 360,000 (230,000) 220,000 Goodwill Total Assets Accounts Payable Bonds Payable 70,000 20,000 $1,070,000 $700,000 $ 70.000 $195.000 320,000 100.000 Bond Premium Common Stock Additional Paid-In Capital 10,000 120,000 150,000 170,000 60,000 Retained Earnings 390,000 185,000 Total Liabilities and Equities $1,070,000 $700,000