Grouper Corporation purchased the net assets of Carla Vista Corporation on January 2, 2020 for $610,400 and also paid $ 21,800 in direct acquisition costs. Carla Vista's balance sheet on January 1, 2020 was as follows: Accounts receivable-net Inventory Land Building-net Equipment-net Total assets $196,200 392.400 43,600 65,400 87,200 $784,800 Current liabilities Long term debt Common stock ($1 par) Paid-in capital Retained earnings Total liab. & equity $76,300 174,400 21,800 468,700 43,600 $784,800 Fair values agree with book values except for inventory, land, and equipment, which have fair values of $ 432,400, $ 53,600 and $ 77,200, respectively. Carla Vista has patent rights valued at $ 21,800.