On January 1, 2018, Marshall Company acquired 100 percent of the outstanding common stock of Tucker Company. To acquire these shares, Marshall issued $310,000 in long-term liabilities and 20,000 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Marshall paid $24,000 to accountants, lawyers, and brokers for assistance in the acquisition and another $9,000 in connection with stock issuance costs Prior to these transactions, the balance sheets for the two companies were as follows: Marshall Company Tucker Company Book Value Book Value Cash Receivables Inventory $ 75,000 Buildings (net Equipment (net Accounts payable Long-term liabilities Common stock-$1 par value Common stock-$20 par value Additional paid-in capital Retained earnings, 1/1/18 354,000 380,000 246, 000 476,000 174,000 (241,000) (480, 000) (110,000) 38,800 90,000 229, 000 253, 000 274, 000 50, 400 41,400) (310,000) (120, 000) (360,000 (514,000) (463, 800) Note: Parentheses indicate a credit balance In Marshall's appraisal of Tucker, it deemed three accounts to be undervalued on the subsidiary's books: Inventory by $9,000, Land by $25,800, and Buildings by $32,200. Marshall plans to maintain Tucker's separate legal identity and to operate Tucker as a wholly owned subsidiary