Problem 2-26 (Algo) (LO 2-5, 2-6a, 2-6b, 2-8) On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Receivables Inventory $ Carrying Amount 151,000 $ 80,000 Fair Value 151,000 80,000 587,000 Copyrights Patented technology Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equities 168,000 855,000 652,000 $ 1,254,000 $ 1,470,000 $ 237,000 694,000 237,000 681,000 100,000 223,000 $ 1,254,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease to exist as a separate entity. To facilitate the merger, Zambrano also paid $105,000 to an investment banking firm.