Q2. Zaid Lid and Zafar Lid agreed to merge on January 1, 2019. On the date of the merger agreement, the companies reported the following data: Zaid Led Zafar Lid Balance Sheet Book Value Fair Value Book Value Fair Value Ca & Recchibles 16,000 107030 Inventory 110,000 140 009 40.00 52,030 Machinery 120,000 150 009 75,010 Land & Building 350 008 240.080 100,800 Accumulated Depreciation (130.600) Total Ascia 650,400 740 000 300,080 137,000 Current Liabilities 100,400 130 009 75.000 75.030 Common Stock Capital in coccin of Par Value 407030 10.00 Retained Earnings 120 000 165,080 Total Liabilities 660,400 3080 080 Zaid Lid has 15,000 shares of its $20 par value shares outstanding on January 1, 20X3, and Zafar Lid has 10,000 shares of $5 par value stock outstanding. The market values of the shares are $400 and $75, respectively. Required: Zaid Lid issues 1,000 shares of stock in exchange for all of Zafar Lid's net assets. Prepare a balance sheet for the combined entity immediately following the merger