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: Values S 52,000 $49,600 309,750 201,750 0 226,500 (57,750) (52,600) Values Receivables Trademarks Record music catalog In-process research and development Notes payable 114,000 66,750 Precombination January 1, 2015, book values for the two companies are as follows NewTune On-the-Go 83,750$35,250 115,250 52,000 493,000 114,000 879,00066,750 56,000126,000 Cash Receivables Record music catalog Equipment (net Totals $1,927,000 $ 394,000 Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings $ (136,000) $ (45,750) 433,000) (57,750) 400,000) (50,000) (30,000) (30,000) (928.000) (210,500) Totals S (1,927,000) $(394,000) Note: Parentheses indicate a credit balance a. Assume that this combination is a statutory merger so that On-the-Go's accounts will be transferred to the records of NewTune. On-the-Go will be dissolved and will no longer exist as a legal entity. Prepare a postcombination balance sheet for NowTune as of the acquistion date NEWTUNE COMPANY AND ON-THE-GO, INC Post-Combination Balance Sheet