RCISE 2-5 Asset Purchase, Contingent Consideration L7 Pritano Company acquired all the net assets of Succo Company $2,160,000 cash. The balance sheet of Suoco Company immediately prior to the acquisition showed: on December 31, 2010, for Book value Fair alue Current assets Plant and equipment Total $ 960,000 1,080,000 $2,040,000 $ 960,000 1.440,000 $2.400,000 $ 216,000 Liabilities Common stock Other contributed capital Retained earnings $180,000 480,000 600,000 780,000 $2,040,000 Total As part of the negotiations, Pritano agreed to pay the stockholdess of Succo $360,000 cash if the postcombination earnings of Pritano averagad $2.160,000 the next two years or inore per year over Required: Prepare the journal entries on the books of Pritano to record che acquisition on December 31, 2010. It is expected that the earnings target is likelyto be et