On July 1, 2025, Marigold Corporation purchased Young Company by paying $252,700 cash and issuing a $136,000 note payable to Steve Young. At July 1, 2025, the balance sheet of Young Company was as follows. Cash $51,600 Accounts payable $207,000 Accounts receivable 91,700 Stockholders' equity 241,600 Inventory 106,000 $448,600 Land 40,600 Buildings (net) 76,400 Equipment (net) 71,300 Trademarks 11,000 $448,600 The recorded amounts all approximate current values except for land (fair value of $63,800), inventory (fair value of $124,300), and trademarks (fair value of $16,720).