PR Company pays $20,000 in cash and issues stock with a fair value of $50,000 to acquire all of SX Corporation's stock. SX will be a subsidiary of PR. Balance sheet accounts just prior to the acquisition are as follows, in trial balance format: PR Company SX Corporation Book value Book value Fair value Dr (Cr) Dr (Cr) Dr (Cr) Current assets Property, plant & equipment, net $20,000 198,000 Identifiable intangible assets 8,000 Current liabilities (20,000) Long-term debt Capital stock 15,000 5,500 17,000 (3,200) (4,100) (104,000) (10,000) (8,000) (83,400) (11,000) $ 9,000 22,000 $ 13,500 Retained earnings (18,000) (18,000) Accumulated other comprehensive income Treasury stock (2,600) 1,800 Total 2,000 $ 0 3,900 $ 0 PR's consultants find these items that are not reported on SX's balance sheet: Potential contracts with new customers Advanced production technology Future cost savings Customer lists Fair value $ 4,000 $3,000 $2,500 $2,000 Outside consultants are paid $400 in cash, and registration fees to issue PR's new stock are $600. On the consolidated balance sheet at the date of acquisition, elimination (R) Ocredits long-term debt by $2,000. Odebits long-term debt by $8,000. Ocredits long-term debt by $8,000. Odebits long-term debt by $2,000.