The following book and fair values were available for Westmont Company as of March 1. Inventory Land Book Value $ Buildings 260,500 759,000 2,170,000 Custoner relationships e Accounts payable (119,000) Common stock (2,000,000) Additional paid-in capital (500,000) Retained earnings, 1/1 (413,000) Revenues Expenses (480,000) 322,500 Fair Value $ 229,750 1,069,500 2,535,250 825,000 (119,000) Arturo Company pays $4,060,000 cash and issues 26,600 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $27.500 and Arturo pays $47300 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/event, select "No journal entry required" in the first account field.)