On January 1, 2015, NewTune Company exchanges 17,632 shares of its common stock for all of the outstanding shares of On-the-Go, Inc. Each of NewTune's shares has a $4 par value and a $50 fair value. The fair value of the stock exchanged in the acquisition was considered equal to On-the-Go's fair value. NewTune also paid $29,550 in stock registration and issuance costs in connection with the merger. Several of On-the-Go's accounts fair values differ from their book values on this date: Fair Values 52,000$ 49,600 114,000 309,750 66,750 201,750 0 226,500 (57,750)(52,600) Book Values Receivables Trademarks Record music catalog In-process research and development Notes payable Precombination January 1, 2015, book values for the two companies are as follows: NewTune On-the-Go Cash Receivables Trademarks Record music catalog Equipment (net) $ 83,750 $ 35,250 115,25052,000 493,000 114,000 879,00066,750 356,000 126,000 Totals $1,927,000 394,000 Accounts payable Notes payable Common stock S (136,000) $ (45,750) (433,000) (57,750) (400,000)(50,000) 30,000)(30,000) (928,000) (210,500) Additional paid-in capital Retained earnings Totals $(1,927,000) $(394,000)