Pascal Corporation purchased 90% of the stock of Salzer Company for $2,058,570 on January 1, 2015. On this date, the fair value of the assets and liabilities of Salzer Company and equipment accounts. The inventory had a fair value of $719,900 and a book value of $601,100. The equipment had a book value of $897.100 and a fair value of $1.068.000 The balances in Salzer Company's common stock and retained earnings accounts on the date of acquisition were $1,191,600 and $605,900, respectively. In general joalues are alocated on the basis of the fair value of Salzer Co imputed from the traSstion Cr purrie ofits stock b No Entry" for for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually .) form, the account titles and enter Account Titles and Explanation Debit Credit