The following balance sheets were reported on January 1, 2020, for P Company and S Company: P Company 150,000 S Company 30,000 Cash 150,000 Inventory Equipment (net) Total 450,000 1,320,000 1,920,000 570,000 750,000 450,000 150,000 300,000 600.000 Total liabilities Common stock, $20 par value Other contributed capital Retained earnings 375,000 495.000 1,920,000 105,000 195,000 750,000 Total Appraisals of S Company's assets reveal that the inventory has a fair value $180,000, and the equipment has a current value of $615,000. The book value and fair value of liabilities are the same. Assuming that P Company wishes to acquire S Company for cash in an asset acquisition, calculate the purchase price at which P Company would record a $25,000 gain