The following are the account balances of Miller Company and Richmond Company as of December 31 prior to the acquisition. The fair value of Richmond's assets and liabilities are also listed. acquisition. The fair values of Richmod Company's assets and liabilities are also listed. Cash Receivables Inventory Buildings and Equipment(net) Unpatented Technology In-process Research/Development Accounts Payable Notes Payable Totals Miller Company Book Values @12/31 $600,000 900,000 1,100,000 9,000,000 0 0 -400,000 -3,400,000 7,800,000 Richmond Company Book Values @12/31 $200,000 300,000 600,000 800,000 0 0 -200,000 -1,100,000 600,000 Richmond Company Fair Values @12/31 $200,000 290,000 820,000 900,000 500,000 100,000 -200,000 -1,100,000 1,510,000 -2,000,000 Common Stock-$20 par value Common Stock-$5 par value Additional paid-in capital Retained Earnings Totals -900,000 -4,900,000 -7,800,000 0 -220,000 -100,000 -280,000 -600,000 Additional Information (not reflected in the preceding figures) 1 On December 31, Miller issues 50,000 shares of its $20 par value common stock for all of the outstanding shares of Richmond Company. 2 As part of the acquisition agreement, Miller agrees to pay the former owners of Richmond $250,000 if certain profit projections are realized over the next three years. Miller calculates the acquisition-date fair value of this contingency at $100,000. 3 In creating this combination, Miller pays $10,000 in stock issue costs and $20,000 in accounting and legal fees on December 31. Miller's stock has a fair value of $32 per share. Using the acquistion method, prepare the necessary journal entries if Miller dissolves Richmond so that it is no longer a separate legal entity Miller Company's Financial Records at December 31-Dssolution