On January 1, 20X2, Prost Company acquired all of SKK Corporation's assets and liabilities by issuing 25,700 shares of its $6 par value common stock. At that date, Prost shares were selling at $24 per share. Historical cost and fair value balance sheet data for SKK at the time of acquisition were as follows: Fair Value $ 23,000 113,000 469,000 Balance Sheet Item Cash & Receivables Inventory Buildings & Equipment Less: Accumulated Depreciation Total Assets Accounts Payable Notes Payable Common Stock ($10 par value) Retained Earnings Total Liabilities & Equities Historical Cost $ 23,000 97,000 606,000 (221,000) $ 505,000 $ 50,000 67,000 167,000 221,000 $ 505,000 $605,000 $ 50,000 65,000 Prost paid legal fees for the transfer of assets and liabilities of $21,000. Prost also paid audit fees of $24,000 and listing application fees of $11,000, both related to the issuance of new shares. Required: Prepare the journal entries made by Prost to record the business combination. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Journal entry worksheet A B C Record the payment of legal fees. Note: Enter debits before credits. Event General Journal Debit 1 Journal entry worksheet Record the costs of issuing stock. Note: Enter debits before credits. Event General Journal Debit Credit 2 Journal entry worksheet A B m. Record the purchase of SKK Corporation. Note: Enter debits before credits. Event General Journal Debit Credit 3