Account Titles:

Acquisition Costs Expense

Cash

Common Stock

Current Assets

Goodwill

Liabilities

No Entry

Other Contributed Capital

Plant and Equipment

Condensed balance sheets for Whispering Winds Company and Carla Vista Company on January 1,2023, are as follows: On January 1,2023, the stockholders of Whispering Winds and Carla Vista agreed to a consolidation. Because FASB requires that one party be recognized as the acquirer and the other as the acquiree, it was agreed that Whispering Winds was acquiring Carla Vista. Whispering Winds agreed to issue 60,000 shares of its $10 par stock to acquire all the net assets of Carla Vista at a time when the fair value of Whisper ing Winds' common stock was $15 per share. On the date of consolidation, the fair values of Carla Vista's current assets and liabilities were equal to their book values. The fair value of plant and equipment was, however, $430,000. Whispering Winds will incur $60,000 of direct acquisition costs and $18,000 in stock issue costs. Prepare the journal entries on the books of Whispering Winds to record the acquisition of Carla Vista Company's net assets. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required. select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit (To record assets and liabilities acquired) (To record the direct acquisition costs) (To record the stock issue costs)