The balance sheets of E Ltd. and J Ltd. on December 30, Year 6, were as follows: Plant assets (net) Cash and receivables Inventory Intangible assets E Ltd. $ 96,400 J Ltd. $ 57,800 229,600 24,400 20,300 9,400 71,300 6,800 $ 408,200 $ 107,800 Current liabilities $ Long-term debt 63,800 98,300 $ 30,100 Common shares Retained earnings (deficit) 154,600 91,500 45,200 46,600 (14,100) $ 408,200 $ 107,800 On December 31, Year 6, E Ltd. issued 483 shares, with a fair value of $40 each, for 70% of the outstanding shares of J Ltd. Costs involved in the acquisition, paid in cash, were as follows: Costs of arranging the acquisition Costs of issuing shares $ 2,580 1,760 $ 4,340