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Assume that the following balance sheets are stated at book value. The fair market value of James's fixed assets is equal to $10,000. Jurion pays

Assume that the following balance sheets are stated at book value. The fair market value of James's fixed assets is equal to $10,000. Jurion pays $16,840 for James and raises the needed funds through an issue of long-term debt. Jurion Co. Current assets $ 12,525 Current liabilities $ 5,580 Net fixed assets 37,050 Long-term debt 10,150 Equity 33,845 Total $ 49,575 Total $ 49,575 James, Inc. Current assets $ 3,610 Current liabilities $ 1,580 Net fixed assets 6,960 Long-term debt 2,110 Equity 6,880 Total $ 10,570 Total $ 10,570 Construct a postmerger balance sheet assuming that Jurion Co. purchases James, Inc., and the purchase method of accounting is used. (Do not round intermediate calculations.) Jurion Co., post-merger Current assets $ 16,135 Current liabilities $ Fixed assets 47050 Long-term debt 29,100 Goodwill Equity 33,845 Total $ Total $

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