On January 1, 20X1, Zambrano Engines Company exchanged 5,000 shares of its $12 par value common stock for all the outstanding stock of Hawkins Steel Company in a stock acquisition. Zambrano Engines incurred $50,000 of legal fees associated with the combination and $10,000 of stock issue costs. At the date of combination, the following information was available: Fair value of Hawkins's net identifiable assets: $160,000 Market value of Zambrano Engines shares: $35 per share Hawkins Steel's stockholders' equity section of its December 31, 20X0, balance sheet: Common Stock, $5 par Additional Paid-In Capital Retained Earnings Total Stockholders' Equity $ 50,000 20,000 75,000 $145.000 Required: Record the combination on the books of Zambrano Engines assuming the business combination is treated as a purchase. (Hint: Debit the investment account for the amount of the purchase. You do not need to record the individual assets and liabilities.)