Hinterland Company acquired all of the common stock of Uberland Corporation on January 1, 2020. As of that date Uberland had the following trial balance. Uberland Accounts Debit Credit Fair Values $ $ January 1, 2020 Accounts payable 60,000 Accounts receivable 50,000 Additional paid-in capital 60,000 Buildings (net) (20-year life) 140,000 $188,000 Cash and short-term investments 70,000 Common stock 300,000 Equipment (net) (8 year life) 240,000 $216,000 Intangible assets (indefinite life) 110,000 Land 90,000 $102,000 Long-term liabilities (due 12/31/22) 180,000 Retained earnings, 1/1/20 120,000 Supplies 20,000 Totals $720,000 $720,000