Can you answer these questions? 1. 1. value: 10.00 points 1. The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value Inventory $ 333,250 $ 281,250 Land 794,250 1,059,000 Buildings 2,025,000 2,385,750 Customer relationships 0 820,500 Accounts payable (94,500 ) (94,500 ) Common stock (2,000,000 ) Additional paid-in capital (500,000 ) Retained earnings 1/1 (396,000 ) Revenues (473,500 ) Expenses 311,500 Note: Parentheses indicate a credit balance. Arturo pays cash of $4,310,000 to acquire Westmont. No stock is issued. Arturo pays $45,000 for legal fees to complete the transaction. Prepare Arturos journal entry to record its acquisition of Westmont. -To record acquisition of Westmont Company. - To record legal fees related to the combination. 2.On June 30, 2013, Wisconsin, Inc., issued $444,550 in debt and 15,200 new shares of its $10 par value stock to Badger Company owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2013, were as follows: Wisconsin Badger Revenues $ (956,000 ) $ (424,000) Expenses 677,000 250,000 Net income $ (279,000 ) $ (174,000) Retained earnings, 1/1 $ (891,000 ) $ (279,000) Net income (279,000 ) (174,000) Dividends paid 113,250 0 Retained earnings, 6/30 $ (1,056,750 ) $ (453,000) Cash $ 74,750 $ 102,000 Receivables and inventory 469,000 213,000 Patented technology (net) 922,000 327,000 Equipment (net) 745,000 600,000 Total assets $ 2,210,750 $ 1,242,000 Liabilities $ (524,000 ) $ (319,000) Common stock (360,000 ) (200,000) Additional paid-in capital (270,000 ) (270,000) Retained earnings (1,056,750 ) (453,000) Total liabilities and equities $ (2,210,750 ) $ (1,242,000) Note: Parentheses indicate a credit balance. Wisconsin also paid $38,700 to a broker for arranging the transaction. In addition, Wisconsin paid $45,800 in stock issuance costs. Badgers equipment was actually worth $701,250, but its patented technology was valued at only $303,900. What are the consolidated balances for the following accounts? Account Amount A.Net Income B. Retained Earnings 01/01/13 C.Patented Technology D.Godwill E.Liabilities F.Common Stock G.Additional Paid in Capital