Required information On December 31, 20X9, Pluto Company acquired 100 percent of Saturn Corporation's common stock for $300,000. Balance sheet information for Saturn just prior to the acquisition is given here: Cash and Receivables $ 35,000 Inventory 75,090 Land 108,000 Buildings and Equipment (mat) 220,000 Total Assets $430,900 Accounts Payable $65,090 Bonds Payable 158, 300 Common Stock 10#,000 Retained Earnings 115,090 Total Liabilities and Stockholders' Equity 4438,500 At the date of the business combination, Saturn's net assets and liabilities approximated fair value except for inventory. which had a fair value of $60.000. land which had a fair value of $125.000. and buildings and equipment (net), which had a fair value of $250,000