2 Receivables Inventory Building (2) Equipment (net) Total assets 558,100 Current Habilities 93,750 Long-tere liabilities 90,000 Como Stock 29.100 Betained earnings $ 270,90 Total liabilities and equities (15,700) (65,250) (90.000) 100.000 3 (270,950) 25 points 0 18:05 On June 30, 2021. Princeton Company paid $320,400 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition, Princeton paid $12,800 in legal fees. Princeton also agreed to pay $49.100 to the former owners of Streeter contingent on meeting certain revenue goals during 2022 Princeton estimated the present value of its probability adjusted expected payment for the contingency at $14.000 In determining its offer. Princeton noted the following pertaining to Streeter, It holds a building with a fair value $48,800 more than its book value It has developed a customer list appraised at $30.200, although it is not recorded in its financial records . It has research and development activity in process with an appraised fair value of $31700. However, the project has not yet reached technological feasibility and the assets used in the activity have no alternative future use. Book Values for the receivables, inventory, equipment, and liabilities approximate fair values