At December 31, 2020, Pandora Incorporated issued 40,000 shares of its $20 par common stock for all the outstanding shares of the Sophie Company. In addition, Pandora paid $10,000 in stock issue costs, $40,000 in legal fees. Summarized balance sheet and fair value information for Sophie immediately prior to the acquisition follows. Book Value $100,000 280,000 520,000 750,000 0 $1,650,000 $200,000 900,000 550,000 $1,650,000 Fair Value $100,000 250,000 640,000 870,000 500,000 Cash Accounts Receivable Inventory Buildings and Equipment (net) Trademarks and Tradenames Total Assets Accounts Payable Notes Payable Retained Earnings Total Liabilities and Equity $190,000 900,000 Required: Prepare Pandora's general journal entry for the acquisition of Sophie assuming that Pandora's stock was trading at $30 at the date of acquisition and Sophie dissolves as a separate legal entity