On january 1, 2013, Peach Company issued 1, 500 of its $20 par value common shares with a fair value of $60 per share in exchange for the 2,000 outstanding common shares of Swartz Company in a purchase transaction. Registration costs amounted to $1, 700, paid in cash. Just prior to the acquisition, the balance sheets of the two companies were as follows: Required: Prepare the journal entry on Peach Company's books to record the exchange of stock. Prepare a Computation and Allocation Schedule for the difference between book value and value implies the purchase price. Prepare a consolidated balance sheet at the date of acquisition