Dickens Corporation issued nonvoting preferred stock with a fair market value of $1,200,000 in exchange for all the assets and liabilities of D&E Corporation. D&E's net assets on the date of the acquisition had a book value of $800,000 and a fair value of $1,050,000. Also, Dickens issued common stock with a fair market value of $50,000 to legal counsel for arranging the transaction. As a result of this business combination DIcken's net assets increased by