Question 2: (7.5 points): B1, C1, C3 Galaf Corporation acquired all the net assets of Jalahma Corporation directly from the shareholders by issuing 20,000 shares of its $10 par common stock (current fair value $20 a share). Galaf paid legal fees of $60,000 in connection with the combination. The condensed balance sheet of Jalahma prior to the business combination, with related current fair value data, is presented below: Jalahma Corporation (Combine) Balance Sheet (prior to business combination December 31.2020 Carrying Fair Current Values Amounts Current assets Investment in securities Plant assets (net) Intangible assets (net) Total Assets Assets $ 200.000 100,000 $20,000 20,000 S 840,000 S 190.000 90,000 800,000 50.000 $ 1.130,000 Liabilities and Stockholder's Equity IS 400,000 40.000 S 440,000 Current liabilities IS 300.000 Long-term debt 60,000 Total liabilities 360,000 Common stock, $10 par S 280,000 Total stockholders equity $ 200.000 Total liabilities and stockholders' equity $ 840,000 Instruction: 1- Calculate the good well. (2.5 Points). 2- Prepare journal entries on December 31, 2020, for Galaf Corporation to record the business combination with Jalahma Company. Disregard income taxes. (5 Points)