Mans Company is about to purchase the net assets of Eagle Incorporated, which has the following balance sheet:

Assets
Accounts receivable	$ 60,000
Inventory	100,000
Equipment	$ 90,000
Accumulated depreciation	(50,000)	40,000
Land and buildings	$300,000
Accumulated depreciation	(100,000)	200,000
Goodwill	60,000
Total assets	$460,000
Liabilities and Stockholders' Equity
Bonds payable	$ 80,000
Common stock, $10 par	200,000
Paid-in capital in excess of par	100,000
Retained earnings	80,000
Total liabilities and equity	$460,000

Mans has secured the following fair values of Eagle's accounts:

Inventory	$130,000
Equipment	60,000
Land and buildings	260,000
Bonds payable	60,000

Acquisition costs were $20,000.

Required:

Record the entries for the purchase of the net assets of Eagle by Mans (statutory merger) at the following cash prices:

c.

$480,000