Beta Corp. acquired all of the net assets of Gamma Corp. on June 1, 2009, in an acquisition reported as a merger. The fair values of Gamma Corp.’s identifiable net assets at the date of acquisition are as follows:

Tangible assets	$35,000,000
Intangible assets	$75,000,000
Liabilities	$55,000,000

Beta pays $130 million in cash and issues 2,000,000 shares of stock to the former owners of Gamma. Beta’s stock has a par value of $2/share. The market price of the shares at the date of acquisition, $50/share, is used to value the shares issued. Registration fees for the stock are $900,000, and legal and consulting fees connected with the acquisition are $1,200,000, both paid in cash.

Required: Record the acquisition on June 1, 2009.