On July 1, 2020, Concord Corporation purchased Young Company by paying $258,200 cash and issuing a $141,000 note payable to Steve Young. At July 1, 2020, the balance sheet of Young Company was as follows.

Cash		$50,600		Accounts payable		$207,000
Accounts receivable		91,800		Stockholders’ equity		244,600
Inventory		109,000				$451,600
Land		41,700
Buildings (net)		75,600
Equipment (net)		70,900
Trademarks		12,000
		$451,600

The recorded amounts all approximate current values except for land (fair value of $60,500), inventory (fair value of $126,400), and trademarks (fair value of $17,360).