Effective December 31, 2024, Zeus proposes to issue additional shares of its common stock in exchange for all assets and liabilities and of Tesla Corporation and Meta Corporation after which the stock of Zeus will be distributed to the shareholders of Tesla and Meta Corporation to complete the liquidation. Balance sheets of each of the corporations immediately prior to the merger on December 31, 2024 are shown below. Zeus negotiated the exchange ratio of the common stock was 1:1 or 1 share of Zeus for each share of Tesla and 1 share of Zeus for each share of Meta. Prepare the journal entries on Zeus's books to record the combination. Assume the following:The identifiable assets and liabilities of both Tesla and Meta are reflected in the balance sheets shown above. Their recorded amounts are equal to their current fair values except for long- term assets. The fair value of Tesla's long-term assets exceed their book value by $75,000 and the fair value of Meta's long-term assets exceed their book value by $42,750. Zeus's common stock is actively traded an has a current market price of $14.75 per share.