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: Balance Sheet Items Assets Cash & Receivables Inventory Land Plant & Equipment Less: Accumulated Depreciation Total Assets Liabilities & Equities Current Liabilities Capital Stock Capital in Excess of Par Value Retained Earnings Total Liabilities & Equities Pumpworks Book Value $ 94,000 112,000 112,000 419,000 (147,000) $ 590,000 $ 69,000 333,000 25,000 163,000 $ 590,000 Fair Value $ 94,000 155,000 154,000 pict 303,000 ure $706,000 $ 69,000 Seaworthy Rope Company Book Value $ 17,000 27,000 7,000 208,000 (62,000) $197,000 $ 22,000 76,500 10,000 88,500 $197,000 Fair Value $ 17,000 39,000 12,000 pict 133,000 ure $201,000 $ 22,000