Goodwill Sub tract Adam Corporation Best Company Book Value $ 90,000 70,000 250,000 (80,000) $330,000 $ 50,000 30,000 Fair Val 5.90,000 160,000 240,000 $490,000 $ 50,000 35,000 Book Value Fair Value Item Cash & Receivables Inventory $150,000 $150,000 300,000 380,000 Buildings & Equipment Total Assets Accounts Payable 600,000 430,000 Less: Accumulated Depreciation (250,000) $800,000 $960,000 $ 75,000 Notes Payable 200,000 $ 75,000 215,000 Common Stock: $8 par value 180,000 $6 par value Additional Paid-In Capital 140,000 Retained Earnings 205,000 Total Liabilities & Equities $800,000 90,000 55,000 105,000 $330,000 Adam acquired all of Best Company's assets and liabilities on January 1, 20X2, in exchange for its common shares. Adam issued 8,000 shares of stock to complete the business combination. Required Prepare a balance sheet of the combined company immediately following the acquisition, assum- ing Adam's shares were trading at $60 each.