Avery Company acquired the net assets of lowa Company on August 1, 2019. The net assets acquired include plant assets that are provisionally estimated to have a fair value of $301,320 with a 9-year usable life and no salvage value and buildings that are provisionally estimated to have a fair value of $180.000 with a 12-year usable life and salvage value of $24,000. Depreciation is recorded based on months in service. The remaining unallocated amount of the price paid is 56,700, which is recorded as Gains on Acquisition. At the end of December 2019, Avery prepared the following statements (includes Iowa Company since acquisition): Balance Sheet Current Assets................. Equipment (net)............... Plant assets (net)................. Buildings $220,000 754.000 893,000 412.000 Current liabilities.....................$ 197,000 Bonds payable........ 389,000 Common stock (S1 par)............ 106.000 Paid-in Capital in excess of par..... 984,000 Retained earnings.. 603.000 Total liabilities and equity........ $2,279,000 Total assets................. $2.279.000 Summary Income Statement $800.000 340,000) $460,000 Sales revenue...... . .... Cost of goods sold........ Gross profit.......... Operating expenses...... Gains on acquisition...... Depreciation expense...... Net Income... ...$(246,700) 6,700 . (145.000) 385.000 $75.000 In February 2020, the final estimated fair value of the acquired plant assets is $267,300 with no change in the estimate of useful life or salvage value. The final estimated fair value of the acquired buildings is $231,840 with no change in the estimate of useful life or salvage value. Required: (36 Points) a) Prepare any journal entries required in February 2020 for the re-measurement and depreciation (12 Points) b) Prepare the revised income statement for 2019 that will be included in the 2020 comparative statements. (12 Points) c) Prepare the revised balance sheet as of Dec. 31, 2019 that will be included in the 2020 comparative statements (12 Points)