1. On January 1, 16 Brown Inc. acquired Larson Company's net assets in exchange for Brown's common stock with a par value of $100,000 and a fair value of $800,000. Brown also paid $10,000 in direct acquisition costs and $15,000 in stock issuance costs. On this date. Larson's condensed account balances showed the following Book Value $280,000 440,000 (100,000) 80,000 (140,000) (100,000) (200,000) (120,000) (140,000) Fair Value $370,000 480,000 Current Assets Plant and Equipment Accumulated Depreciation Intangibles - Patents Current Liabilities Long-Term Debt Common Stock Other Paid-in Capital Retained Earnings 120,000 (140,000) (110,000) Required: Record Brown's purchase of Larson Company's net assets. 2. Supemova Company had the following summarized balance sheet on December 31 of the current year