The following book and fair values were available for Westmont Company as of March 1.

	Book Value			Fair Value
Inventory	$	609,250		$	572,250
Land		755,250			1,050,000
Buildings		1,800,000			2,152,500
Customer relationships		0			849,750
Accounts payable		(91,000	)		(91,000	)
Common stock		(2,000,000	)
Additional paid-in capital		(500,000	)
Retained earnings, 1/1		(416,500	)
Revenues		(481,500	)
Expenses		324,500

Arturo Company pays $4,150,000 cash and issues 20,900 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmonts common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $28,600 and Arturo pays $44,600 for legal fees to complete the transaction.

Prepare Arturos journal entries to record its acquisition of Westmont.

Record the acquisition of Westmont Company.

Record the legal fees related to the combination.

Record the payment of stock issuance costs.