Expandomania has negotiated to purchase an existing company for $75,000. The current balance sheet with negotiated fair values of the assets is shown below: Book Fair Value Value Accounts Receivable (net) 11,000 10,000 Inventory 60,000 60,000 Land 10,000 15,000 Building (net) 90,000 125,000 Equipment(net) 229,000 200,000 Total Assets 400,000 410,000 Accounts Payable 50,000 Notes Payable (long-term) 300,000 Common Stock 20,000 Retained Earnings 30,000 Total Liabilities & Equity 400,000 The fair value of the liabilities equals the book value. Journalize the acquisition