) Pan Company issued 480,000 shares of $10 par common stock with a fair value of $10,200,000 for all the voting common stock of Set Company. In addition, Pan incurred the following costs: Legal fees to arrange the business combination $180,000 Cost of SEC registration, including accounting and legal fees 48,000 Cost of printing and issuing net stock certificates 12,000 Immediately before the acquisition in which Set Company was dissolved, Sets assets and equities were as follows (in thousands)

Prepare all journal entries on Pans books to record the acquisition.