answer asap please

Bagley Incorporated's statement of financial position as at July 31, Year 4, is as follows: BAGLEY INCORPORATED STATEMENT OF FINANCIAL POSITION At July 31, Year 4. Carrying Fair Amount Value Plant and equipment (net) $ 914,000 $1,057,000 Patents 82,000 Current assets 459,000 511,000 $1,373,000 Ordinary shares $ 186,000 Retained earnings 516,000 Long-term debt 394,000 420,000 Current liabilities 277,000 277,000 $1,373,000 On August 1 Year 4, the directors of Bagley considered a takeover offer from Davis Inc., whereby the corporation would sell all of its assets and liabilities. Davis's costs of investigation and drawing up the merger agreement would amount to $21,500. Required: (a) Assume that Davis made a $1112,200 cash payment to Bagley for its net assets. Prepare the journal entries in the accounting records of Davis to record the business combination (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet B Record the acquisition of net assets of Bagley Incorporated in Davis Inc's books Naut View transaction list Journal entry worksheet