Problem 29-3 Balance Sheet for Mergers Assume that the following balance sheets are stated at book value Jurion Co Current assets $16,000 Current liabilities 7,300 42,000 Net fixed assets Long-term debt Equity 11,800 38,900 $58,000 Total $58,000 Total James, Inc Current assets Net fixed assets 5,400 Current liabilities $ 3,300 Long-term debt Equity 14,400 3,900 12,600 Total $19,800 Total $19,800 Suppose the fair market value of James' fixed assets is $21,300 versus the $14,400 book value shown Jurion pays $28,000 for James and raises the needed funds through an issue of long-term debt. Construct the postmerger balance sheet, assuming that the purchase method of accounting is used Jurion Co., post-merger Current assets Current liabilities Long-term debt Fixed assets Goodwill Equity Total Total