How do I find the value of the assets and liabilities?

On January 1, Tamir Inc. acquired 90% of the outstanding common stock of Bulls Inc. paying $7,000,000 cash. The book values and fair values of Tamirs assets and liabilities are listed below:

	Book Value	Fair Value
Accounts Receivable	1,000,00	925,000
PPE	5,000,000	7,000,000
(Accum Dep- PPE)	(1,200,000)
R+D in Progress	0	2,400,000
Accounts Payable	1,800,000	1,800,000
Notes Payable	2,700,000	1,875,000
Non-controlling Interest		600,000

Required: Prepare the journal entry to record the acquisition by Tamir Inc.