The following book and fair values were available for Westmont Company as of March 1 Inventory Land Buildings Book Value Fair Value $ 538,750 $499,250 768,750 1,011,750 1,835,000 2,177,750 0 843,000 Customer relationships Accounts payable (97,500) Common stock (2,000,000) Additional paid-in capital (500,000) Retained earnings, 1/1 (405,000) (445,000) Revenues 305,000 (97,500) < Expenses Arturo Company pays $4,030,000 cash and issues 25,400 shares of its $2 par value common stock fait value of $50 per share for al of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity Stock issue costs arb $31,600 and Arturo pays $49,700 for legal fees to complete the transaction Prepare Arturo's journal entries to record its acquisition of Westmont. (If no entry is required for a transaction levent, select No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 2 Record the acquisition of Westmont Company Prev