On January 2, 2022, Bread Corporation issued 100,000 new shares of its $5 par value common stock valued at $19 a share for all of Dilan Corporation's outstanding common shares. Bread paid $15,000 to register and issue shares. Bread also paid $10,000 for the direct combination costs of the accountants. The fair value and book value of Dilan's identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January 2, 2022, is as follows: Bread Dilan Cash $ 150,000 $ 120,000 Inventories 320,000 400,000 Other current assets 500,000 500,000 Land 350,000 250,000 Plant assets-net 4,000,000 1,500,000 Total Assets $5,320,000 $2,770,000 Accounts payable $1,000,000 $ 300,000 Notes payable 1,300,000 660,000 Capital stock, $5 par 2,000,000 500,000 Paid-in capital 1,000,000 100,000 Retained Earnings 20,000 1,210,000 Total Liabilities