Question 2 (50 points). On June 1, 2022, Park Corporation acquired Shark Corporation's net assets by paying 175,000 cash. Balance sheet data for the Park & Shark and fair value information for Shark immediately before the business combination are given below: Assets Park Book Value Shark Book Value Fair Value Cash & receivables 250,000 35,000 35,000 Inventory Land Plant, Property and Equipment 100,000 75,000 250,000 58,300 65,000 33,500 36,700 120,000 110,000 Less: Accumulated Depreciation Total -95,000 -36,800 580,000 210,000 246,700 Liabilities and Stockholders' Equity Accounts Payable 72,000 30,000 33,500 Notes Payable 125,000 13,000 Bonds payable 100,000 40,000 13,000 40,000 Common Stock Retained Earnings Total Required: 120,000 70,000 163,000 57,000 580,000 210,000 a. Prepare the journal entry to record the acquisition of Shark Corporation. (35 points). b. What would the balance of inventory be in the balanced sheet of combined company immediately after the business combination? (5 points). c. What would the balance of accounts payable be in the balanced sheet of combined company immediately after the business combination? (5 points). d. What would the balance of common stock be in the balanced sheet of combined company immediately after the business combination? (5 points).