Epsilon Ltd. acquired all of the net assets of Zeta Inc. on July 1, 2019, in an acquisition reported as a merger. The fair values of Zeta Inc.’s identifiable net assets at the date of acquisition are as follows:

Tangible assets	$35,000,000
Intangible assets	$75,000,000
Liabilities	$55,000,000

Epsilon pays $130 million in cash and issues 2,500,000 shares of stock to the former owners of Zeta. Epsilon’s stock has a par value of $3/share. The market price of the shares at the date of acquisition, $60/share, is used to value the shares issued. Registration fees for the stock are $700,000, and legal and consulting fees connected with the acquisition are $950,000, both paid in cash.

Required: Record the acquisition on July 1, 2019.