On July 1, 201?, Flounder Corporation purchased the net assets of Soorva Companyr by paying $453,000 cash and issuing a $54,900 note payable to Soorva Company. At July 1, 201?, the statement ofnancial position of Soorya Company was as follows: Cash $74,100 Accounts payable $312,400 Accounts receivable 111,000 Soorva, capital 232,000 Inventory 99,000 Total $549,400 Land 50,?00 Buildings [net] 74,100 Equipment (net) 92,000 Trademarks (net) 48,500 Total $549,400 The recorded amounts all approximate current values except for land (worth $61,600), inventory {worth $132,400), and trademarks (worthless). The receivables are shown net of an allowance for doubtful accounts of $13,000. The amounts for buildings, equipment, and trademarks are shown net of accumulated amortization of $22,000, $22,000, and $42, 000, respectively