On July 1, 2023, Marigold Corporation purchased the net assets of Soorya Company by paying $444,000 cash and issuing a $49,200 note payable to Soorya. At July 1, 2023, the statement of financial position of Soorya was as follows: Cash $75,800 Accounts payable $319,000 Accounts receivable: 106,000 Soorya, capital 235,000 Inventory 96,300 $554,000 Land 48,400 Buildings (net)) 75,800 Equipment (net) 101,800 Trademarks (net) 49,900 $554,000 The recorded amounts all approximate current values except for land (worth $58,400), inventory (worth $127,800), and trademarks (worthless). The receivables are shown net of an allowance for expected credit losses of $12,000. The amounts for buildings, equipment, and trademarks are shown net of accumulated amortization of $19,000, $27,000, and $49,000, respectively.