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Moving to another question will save this response. Question 7 of 13 Question 7 6 points Aston Company acquired the assets (except for cash) and assumed the liabilities of Robert Company. Immediately prior to the acquisition, Robert Company's balance sheet was as follows: Save Age Book value Fair value Cash $120,000 $120,000 Receivables (net) 192,000 228,000 Inventory 360,000 396,000 Plant and Equipment (net) 480,000 540,000 Land 420,000 660,000 Total Assets $1,572,000 1,944,000 Liabilities 540,000 594,000 Common Stock ($5 par value) 480,000 Other Contributed Capital 132,000 Retained earnings 420,000 Total Equities 1,572,000 Instructions: Prepare the journal entries on the books of Aston Company to record the purchase of the assets and assumption of the liabilities of Robert Company if the amount paid was $1,560,000 in cash. Paragraph 4 Arial a 3 (12pt) T * DOO T T O fr Mashups HTML CSS