2 (50 points). On January 1, 2022, Positive Corporation acquired Super Corporation's net assets by paying 205,000 cash. Balance sheet data for the Positive & Super and fair value information for Super immediately before the business combination are given below: Assets Cash & receivables Inventory Positive Book Value Super Book Value Fair Value 125,000 27,500 20,000 35,000 46,000 Land Patent 174,500 92,000 47,500 112,000 35,500 0 25,000 Plant, Property and Equipment 280,000 135,000 97,500 Less: Accumulated Depreciation -65,000 -53,000 Total 585,000 247,500 302,000 Liabilities and Stockholders' Equity Accounts Payable 75,500 47,500 Notes Payable 140,000 62,500 50,000 62,500 Common Stock 100,000 40,000 Additional Paid-in Capital 97,500 65,000 Retained Earnings 172,000 32,500 Total 585,000 247,500 Required: a. Prepare the journal entry to record the acquisition of Super Corporation. (35 points). b. What would the balance of land be in the balanced sheet of combined company immediately after the combination? (5 points). c. What would the balance of accounts payable be in the balanced sheet of combined company immediately after the combination? (5 points). d. What would the balance of common stock be in the balanced sheet of combined company immediately after the combination? (5 points)