follows: Stockholders of Acme Company, Baltic Company, and Colt Company are considering alternative arrangements for a business combination. Balance sheets and the fair values of each company's assets on October 1, 2014, were Acme Baltic Colt Assets $3,916,220 $7,480,800 $954,020 Liabilities $2,043,380 $2,209,480 $257,480 Common stock, $20 par value 2,006,700 1,808,920 541,250 Other contributed capital -0- 599,920 189,960 Retained earnings (deficit) (133,860 ) 2,862,480 (34,670 ) Total equities $3,916,220 $7,480,800 $954,020 Fair values of assets $4,206,300 $9,020,800 $1,294,600 Acme Company shares have a fair value of $53. A fair (market) price is not available for shares of the other companies because they are closely held. Fair values of liabilities equal book values. *(a) Prepare a balance sheet for the business combination. Assume the following: Acme Company acquires all the assets and assumes all the liabilities of Baltic and Colt Companies by issuing in exchange 139,330 shares of its common stock to Baltic Company and 40,060 shares of its common stock to Colt Company. (List assets in order of liquidity. Enter negative account balance with negative sign preceding the number e.g. -5,125 or parentheses e.g. (5,125).) ACME COMPANY Balance Sheet October 1, 2014 Assets Assets (except goodwill) $ 14231620 Goodwill cspan style="color:inherit; Liabilities and Stockholders' Equity Liabilities $ 4510340 Common Stock Other Contributed Capital Retained Earnings