-5 -20.On January 1, 2016, Prima Company issued 1,500 of its $20 par value common shares with a fair value of $50 per share in exchange for 2,000 outstanding common shares of Swatch Company in a purchase transaction. Registration costs amounted to $1,700 paid in cash. Just prior to the acquisition, the balance sheets of the two companies were as follows:PrimaSwatchCash$ 73,000$13,000Accounts Receivable (net)95,00019,000Inventory58,00025,000Plant and Equipment (net)95,00043,000Land26,00020,000Total Assets$ 347,000$ 120,000