Plastic Corporation is contemplating a business combination with Steel Corporation at December 31, 2011. Steel's condensed balance sheet on that date appears below (in millions): Assets Book Value Fair Value Cash and receivables $28,000 $28,000 Inventory 28,000 36,000 Equity method investments 14,400 16,000 Land 6,400 8,800 Buildings and equipment 5,600 11,200 Patents 4,000 8,000 Total assets $86,400 Liabilities and Stockholders' Equity Liabilities $17,600 $17,600 Common stock 40,000 -- Retained earnings 28,800 -- Total liabilities and equity $86,400 Prepare the journal entry to record the business combination of Plastic and Steel for each of the following purchase prices and combination methods (data provided below are in millions). (a) Plastic merges with Steel by acquiring all of Steel's stock for $100,000 cash, in a merger. Other direct cash acquisition costs are $20,000. (in millions) (b) Plastic merges with Steel by acquiring all of Steel's stock for $80,000 cash, in a merger. Other direct cash acquisition costs are $8,000. (in millions) (c) Plastic merges with Steel by acquiring all of Steel's stock for $108,000 cash, in a merger. Other direct cash acquisition costs are $12,000. (in millions)