2. On January 1, 2019, AB Company exchanges 10,000 shares of its common stock for all of the net assets of CD, Inc. Each of the NT's shares has a $5 par value and a $40 fair value. AB also paid $35,000 as direct out- of-pocket costs. Several of CD's accounts have fair values that differ from their book values on this date: Book Values Fair Values Receivables $ 85,000 $ 83,000 Trademarks 65,000 125,000 Furniture and Fixture 100,000 180,000 Research and development -0- 160,000 Notes payable 40.000 45,000 Precombination January 1, 2019, book values for the two companies are as follows: Cash Receivables Trademarks Furniture and Fixture Equpiment (net) Totals AB $ 50,000 120,000 300,000 640,000 320,000 $ 1,430.000 CD S 9,000 85,000 65,000 100,000 105,000 $ 364,000 Accounts Payable S 100,000 $ 34,000 Notes Payable 270.000 60,000 Common stock 400.000 50,000 Additional paid-in capital 30,000 30,000 Retained earnings 630,000 190,000 Totals S 1,430,000 $ 364,000 Assume that this combination is a statutory merger so that CD's accounts will be transferred to the records of AB. CD will be dissolved and will no longer exist as a legal entity. Using the acquisition method, prepare the journal entry to record the purchase and a postcombination balance sheet for AB as of the acquisition date