prepare a journal entry to record the acquisition in pamrod's books

P1-35 Purchase at More than Book Value LO 1-5 Pamrod Manufacturing acquired all the assets and liabilities of Stafford Industries on January 1, 20x2. in exchange for 4.500 shares of Pamod's 516 par value common stock Balance sheet data for both companies just before the merger are given as follows: Balance Sheet Items Stafford Industries Book Value Fair Valur 5 Pardufacturing Book Value Fair Value $ 35,000 BB,083 115,00 115,000 205. 385.00 32,000 602.00 551, eee (238.60) 51,218, 25. 68, 119,000 529.000 6, 168,300 27,000 349,00 45,00 3 Cash Accounts Receivable Inventory Land Building Equipment Less Accumulated Depreciation Total Assets Libilities & Equities accounts Payable Bands Payable Common Stock 516 per value 518 para Additional Paid-In Capital Retained 101,00 (340,000 $ 510,000 5621,000 $ 65,00 389,000 $ $ 65,000 319.000 53.800 3,000 151,000 142,000 192.000 23,000 238.000 96.000 26,900 5510, Parod shares were selling for $140 on the date of acquisition Required: a Prepare a Journal entry to record the acquisition in Parvod's books. If no entry is required for a transaction/event, select "No journal entry required in the first account field)