Flynn acquires 100 percent of the outstanding voting shares of Macek Company on January 1, 2021. To obtain these shares, Flynn pays $400 cash (in thousands) and issues 10,000 shares of $20 par value common stock on this date. Flynn's stock had a fair value of $35 per share on that date. Flynn also pays $50 (in thousands) to a local investment firm for arranging the acquisition. An additional $15 (in thousands) was paid by Flynn in stock issuance costs. The book values for both Flynn and Macek immediately preceding the acquisition follow. The fair value of each of Flynn and Macek accounts is also included. In addition, Macek holds a fully amortized trademark that still retains a $60 (in thousands) value. The figures below are in thousands. Macek Company Fin Flynn, Inc Book Value Fair Value Cash $900 $ 80 $ 80 Receivables 480 180 150 Inventory 660 260 300 Land 300 120 130 Buildings (net) 1,200 220 280 Equipment 360 100 75