The following book and fair values were available for Westmont Company as of March 1 Inventory Land Buildings Customer relationships Book Value Pair Valce $ 588,500 $549,000 780,000 1,045,500 1,755,000 2,056,500 0 840,000 Accounts payable (101,500) (101,500) Common stock (2,000,000) Additional paid-in capital (500,000) Retained earnings, 1/1 (378,000) (448,000) 304,000 Revenues Expenses Arturo Company pays $4,180,000 cash and issues 22,700 shares of its $2 par value common stock fair value of $50 per share) for of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount $32,200 and Arturo pays $45,400 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.) View transaction list Journal entry worksheet 1 2 3 Record the acquisition of Westmont Company > Next >