Here are the pre-acquisition balance sheets of Pepper and Salt Company on December 31, 2014: In addition to the above, Salt Co. has identifiable intangibles with a fair value of dollar 5,000,000, not recognized on its books but appropriately capitalized by Pepper. On January 1, 2015, Pepper issues 400,000 shares of its stock, with a par value of dollar 10/share and a market value of dollar 100/share, to acquire Salt Company's assets and liabilities. Stock registration fees are dollar 1, 100,000, paid in cash. Required: Present the journal entry that Pepper makes to record the acquisition. Repeat the requirements of a. above, but now assume Pepper instead issued 100,000 shares of stock for Salt's assets and liabilities, and registration costs are dollar 800,000, paid in cash. As in b. above, Pepper issued 100,000 shares of stock for Salt's assets and liabilities, and registration costs are dollar 800,000, paid in cash. In addition, Pepper agrees to pay cash to Salt's previous owners if the combined earnings of Pepper and Salt exceed a certain threshold over the next two years, which is more likely than not. The expected present value of the earnings contingency is dollar 8,000,000. Prepare Pepper's acquisition entry