Anchor Corporation paid cash of $175,000 to acquire Zink Company's net assets on February 1, 20X3. The balance sheet data for the two companies and fair value information for Zink immediately before the business combination were: Corporation Zink Company Balance Sheet Item Book Value k Value Fair Value Cash Accounts Receivable Inventory Patents Buildings & Equipment Less: Accumulated Depreciation $ 259,000 140,000 179,000 S 20,000 S 20,000 32,000 40,000 50,000 135,000 32,000 42,000 49,000 310,000 (186,000)(196.000) 86,000 388,000 Total Assets $ 866,000$257,000 $277,000 Liabilities & Equities Accounts Payable Notes Payable Common Stock: $ 84,000 S 61,000 61,000 124,000124,000 150,000 193,000 159,000 $10 par value $8 par value Additional Paid-In Capital Retained Earnings 18,000 5,000 49,000 280,000 Total Liabilities & Equities $ 866,000 257,000