On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,344,500 in cash and securities. On the acquisition date, Stylene had the following balance sheet: Cash $ 28,000 Accounts payable $ 1,199,000 Accounts receivable 99,000 Inventory 168,000 Equipment (net) 1,620,000 Common stock 800,000 Trademarks 942,000 Retained earnings 858,000 Total assets $ 2,857,000 Total liabilities and equity $ 2,857,000 At the acquisition date, the book values of Stylenes assets and liabilities were generally equivalent to their fair values except for the following assets: Asset Book Value Fair Value Remaining Useful Life Equipment $ 1,620,000 $ 1,836,000 8 years Cus