Check my work The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value $439,750 401,250 Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses 776,250 1,019, 250 2,025, 000 2,346, 750 873,750 (114,500) (114,500 (2,000, 000) (500,000 (445,000) (506,500 325,000 Arturo Company pays $4,170,000 cash and issues 24,000 shares of its $2 par value common stock (fair value of $50 per share) for al of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $34,500 and Arturo pays $50,600 for legal fees to complete the transaction. 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 field.)