Assume that the following balance sheets are stated at book value. Suppose that Jurion Co. purchases James, Inc. Then suppose the fair market value of James?s fixed assets is $24,500 versus the $14,600 book value shown. Jurion pays $32,800 for James and raises the needed funds through an issue of long-term debt. Construct the postmerger balance sheet under the purchase method of accounting.?

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Jurion Co. Current Current $29,000 liabilities $7,900 assets Long- term Net fixed 52,000 debt 14,100 assets Equity 59,000 $ 81,000 Total $81,000 Total James, Inc. Current liabilities Current $ 4,500 $ 3,400 assets Long- term Net fixed 14,600 debt 2,200 assets Equity 13,500 $ 19,100 $ 19,100 Total Total