5c U NION of SaleData's assets and liabilities have been affected? 33. On January 1, New Tune Company exchanges 15,000 shares of its common stock for all of standing shares of On-the-Go, Inc. Each of New Tune's shares has a $4 par value and a $50 tall The fair value of the stock exchanged in the acquisition was considered equal to On-the- New Tune also paid $25,000 in stock registration and issuance costs in connection with the merger Several of On-the-Go's accounts' fair values differ from their book values on this date: Receivables Trademarks Record music catalog........... In-process research and development...... Notes payable..... Book Values $ 65,000 95,000 60,000 -0- (50,000) Fair Values $ 63,000 225,000 180,000 200.000 (45,000) Precombination book values for the two companies are as follows: Cash .......... Receivables... Trademarks ....... Record music catalog... Equipment (net)... Totals................ New Tune $ 60,000 150,000 400.000 840,000 320,000 $1.770.000 On-the-Go $ 29,000 65,000 95,000 60,000 105,000 $354.000 (continued) Consolidation of Financial Information 85 Accounts payable ........ Notes payable.. Common stock ...... Additional paid-in capital....... Retained earnings.............. Totals........... $ (110.000) (370,000) (400,000) (30,000) (860,000) $(1.770,000 $ (34,000) (50,000) (50,000) (30,000) (190,000) $1354.000)