Book Value IFair Value 231,500 1,002,000 2,464,250 849,000 (88,000) 261,750 759,750 Inventory Land Buildings Customer relations hips Accounts payable Common stock 2,150,000 0 (88,000) (2,000,000) (500,000) 100 polnts Additional paid-in capital Retained earnings 1/1 (415,500) Skipped (469,500) 301,500 Revenues Expenses eBook Arturo Company pays $3,710,000 cash and issues 21,900 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $29,700 and Arturo pays $46,000 for legal fees to complete the transaction. Print References Prepare Arturo's journal entry to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) View transaction list Journal entry worksheet 1 2 3 Record the acquisition of Westmont Company