Metal Fuzz Limited acquired the business of Heatseeker Limited for $115 000. Heatseekers balance sheet consist of the following accounts along with their carrying amounts and the estimated fair values of the assets and liabilities immediately before acquisition date:

	Carrying amount ($)	Fair value ($)
Accounts receivable	17,000	17,000
Inventory	25,000	30,000
Building (net)	65,000	75,000
Accounts Payable	15,000	15,000
Retained Earnings	10,000
Share Capital	82,000

Heatseeker Limiteds also disclosed a contingent liability in its notes relating to a guarantee for a loan of $3,000. At the date of acquisition it was only a 40% chance that the guarantee would be invoked.

The net value of identifiable assets and liabilities acquired by Metal Fuzz Limited would be: