Acquisition and Eliminating Entries, Bargain Purchase Publix Company acquired all of Sherman Company's common stock for $25,200,000 cash; fees paid to an outside firm to estimate the earning power of Sherman and the fair value of its properties amounted to $2,000,000, paid in cash. Book values of Sherman's identifiable assets and liabilities approximated their fair values except as noted below: Book Value Fair Value Inventories Land Other plant assets, net $1,500,000 100,000 S1,800,000 200,000 1,050,000 800,000 370,000 Long-term debt 400,000 Sherman's equity accounts consisted of $20,000,000 capital stock and $5,00,000 retained earnings Required: a. Record Publix's acquisition entry