On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Value Fair Value Receivables $ 90,000 $ 90,000 Inventory 75,000 75,000 Copyrights 125,000 480,000 Patented technology 825,000 700,000 Total assets $ 1,115,000 $ 1,345,000 Current liabilities $ 160,000 $ 160,000 Long-term liabilities 645,000 635,000 Common stock 100,000 Retained earnings 210,000 Total liabilities and equities $1,115,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease to exist as a separate entity. To facilitate the merger, Zambrano also paid $100,000 to an investment banking firm. The following information was also available: