Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $12,000,000 in cash. The book values and fair values of Premium Meats' assets and liabilities were:

	Book Value				Fair Value
Accounts Receivable	$	1,800,000			$	1,600,000
Equipment		8,500,000				9,900,000
Patents		300,000				1,700,000
Notes Payable		(2,700,000	)			(2,700,000	)
Net assets	$	7,900,000			$	10,500,000

Record Fresh Cut's acquisition of Premium Meats. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)