Pumpworks Balance Sheet Items Assets Cash & Receivables) Inventory Land Plant & Equipment Less: Accumulated Depreciation Total Assets Liabilities & Equities Current Liabilities Capital Stock Book Value Pumpworks Inc. and Seaworthy Rope Company agreed to merge on January 1, 20X3. On the date of the merger agreement, the companies reported the following data: Seaworthy Rope Company Fair Value Book Value $ 109,000 110,000 110,000 $109,000 $ 17,000 158,000 27,000 142,000 7,000 Fair Value $ 17,000 39,000 12,000 411,000 (135,000) pict 314,000 ure 217,000 (71,000) pict 126,000 ure $ 605,000 $723,000 $197,000 $194,000 $ 78,000 $ 78,000 Capital in Excess of Par Value 210,000 24,000 $ 28,000 22,500 9,000 $ 28,000 Retained Earnings 293,000 Total Liabilities & Equities $ 605,000 137,500 $197,000 Pumpworks has 10,500 shares of its $20 par value shares outstanding on January 1, 20X3, and Seaworthy has 4,500 shares of $5 par value stock outstanding. The market values of the shares are $300 and $70, respectively. b. Prepare the stockholders' equity section of the combined company's balance sheet, assuming Pumpworks acquires all of Seaworthy's net assets by issuing: 1. 1,100 shares of common. 2. 1,800 shares of common. 3. 3,200 shares of common.