Here are the trial balances for the Parity Co. and the System Co. just before the books were closed on December 31, 2019. Fair market values for selected System Co. accounts are shown. Parity Trial Balance 170,000 255,000 (65,000) (300,000) System System Trial Fair Mkt Balance Values 65,000 75,000 105,000 142,000 (45,000) (45,000) Current assets Noncurrent assets (net) Liabilities Common Stock (Par) $20 Common Stock (Par) $40 Additional paid in capital Retained earnings 1/1/19 Revenues Expenses (10,000) (60,000) (110,000) 120,000 (60,000) (20,000) (25,000) (90,000) 70,000 On December 31, 2019. Parity Co. purchased 100% of System Company's stock by issuing 4,500 shares of its own stock and paying $90,000 cash. On that date, the market value of Parity Company's stock was $30 per share. There were no combination costs or stock issuance costs. System Co. was dissolved immediately after the takeover and no longer existed independently. Make all necessary journal entries in Parity Company's records to recognize this acquisition