A company acquires the assets and liabilities of another company. The fair value of the acquired company’s identifiable net assets is $5,000,000. The acquisition transaction includes the following:

$5,000,000 in cash paid to the former owners of the acquired company

150,000 new shares of stock with a market value $45/share. Registration fees, paid in cash, were $1,000,000.

$4,000,000 in cash paid to the underwriter for consulting services

Earnings contingency with an expected present value of $3,000,000 at the date of acquisition

Prepare the acquisition entry to be made by the acquiring company.