Jernigan Corp. had the following account balances at 12/1/17: Receivables Inventory Land Buildings Liabilities Common stock Additional paid-in capital Retained earnings, 12/1/17 Revenues Expenses $ 96,000 240,000 720,000 600,000 480,000 120,000 120,000 840,000 360,000 264,000 Several of Jernigan's accounts have fair values that differ from book value. The fair values are: Land $480,000; Building - $720,000; Inventory $336,000; and Liabilities $396,000. Inglewood Inc. acquired all of the outstanding common shares of Jernigan by issuing 20,000 shares of common stock having a $6 par value per share, but a $66 fair value per share. Stock issuance costs amounted to $12,000. Required: Prepare a fair value allocation and goodwill schedule at the date of the acquisition. Short Answer Toolbar navigation B I U s Av 7