On December 31, 20X9, Add-On Company acquired 100 percent of Venus Corporation's common stock for $300,000. Balance sheet information Venus just prior to the acquisition is given here: Cash and Receivables Inventory Land Buildings and Equipment (net) Total Assets Accounts Payable Bonds Payable Common Stock Retained Eamings Total Liabilities and Stockholders' Equity S35,000 75,000 100,000 220,000 $430,000 S65,000 150,000 100,000 115,000 $430,000 At the date of the business combination, Venus's net assets and liabilities approximated fair value except for inventory, which had a fair value of $60,000, land which had a fair value of $125,000, and buildings and equipment (net), which had a fair value of $250,000