The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value Inventory $ 630,000 $ 600,000 Land 750,000 990,000 Buildings 1,700,000 2,000,000 Customer relationships 0 800,000 Accounts payable (80,000 ) (80,000 ) Common stock (2,000,000 ) Additional paid-in capital (500,000 ) Retained earnings 1/1 (360,000 ) Revenues (420,000 ) Expenses 280,000 Arturo Company pays $4,000,000 cash and issues 20,000 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 $25,000 and Arturo pays $42,000 for legal fees to complete the transaction. Prepare Arturos journal entry to record its acquisition of Westmont