Smith Company is acquired by Roan Corporation on July 1.2015. Roan exchanges 60,000 shares of its $I 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: The balance sheet of Smyth Company, on the day of the acquisition, is as follows: Smith Company is acquired by Roan Corporation on July 1.2015. Roan exchanges 60,000 shares of its $I 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: The balance sheet of Smyth Company, on the day of the acquisition, is as follows