Balance sheets for Salt Company and Pepper Company on December 31,2013 , follow: Pepper Company tentatively plans to issue 31,600 shares of its $20 par value stock, which has a current market value of $34 per share net of commissions and other issue costs. Pepper Company then plans to acquire the assets and assume the liabilities of Salt Company for a cash payment of $852,800 and $280,400 in long-term 8% notes payable. Pepper Company's receivables include $62,060 owed by Salt Company. Pepper Company is willing to pay more than the book value of Salt Company assets because plant assets are undervalued by $212,570 and Salt Company has historically earned above-normal profits. Prepare a pro forma balance sheet showing the effects of these planned transactions. (If an amount reduces the account balance then enter with negative sign preceding the number eg. 5,125 or parentheses e.g. (5,125). Balance sheets for Salt Company and Pepper Company on December 31,2013 , follow: Pepper Company tentatively plans to issue 31,600 shares of its $20 par value stock, which has a current market value of $34 per share net of commissions and other issue costs. Pepper Company then plans to acquire the assets and assume the liabilities of Salt Company for a cash payment of $852,800 and $280,400 in long-term 8% notes payable. Pepper Company's receivables include $62,060 owed by Salt Company. Pepper Company is willing to pay more than the book value of Salt Company assets because plant assets are undervalued by $212,570 and Salt Company has historically earned above-normal profits. Prepare a pro forma balance sheet showing the effects of these planned transactions. (If an amount reduces the account balance then enter with negative sign preceding the number eg. 5,125 or parentheses e.g. (5,125)