Smith Company is acquired by Roan Corporation on July 1, 2015. Roan exchanges 60,000 shares of its $1 par stock, with a fair value of $18 per share, for the net assets of Smith Company. Roan incurs the following costs as a result of this transaction: Acquisiton costs................................................$25,000 Stock registration and issuance costs................10,000 Total costs.........................................................$35,000 The balance sheet of Smyth Company, on the day of the acquisition, is as follows: Assets: Cash............................................$100,000 Inventory........................................250,000 Property, plant, and equipment: Land.....................$200,000 Buildings (net)........250,000 Equipment (net).....200,000..........650,000 Total assets...............................$1,000,000 Liabilities and Equity Current liabilities.....$80,000 Bonds Payable........500,000.......$580,000 Stockholders' equity: Common Stock......$200,000 Paid-in capital in excess of par...100,000 Retained earnings...120,000........420,000 Total Liabilities and equity.............$1,000,000 The appraised fair values as of July 1, 2015 is as follows: Inventory................................$270,000 Equipment...............................220,000 Land........................................180,000 Buildings.................................300,000 Current liabilities.......................80,000 Bonds payable.........................425,000 Record the acquisition of Smyth Company on the books of Radar Corporation. Please help me solve this question. Thank you