The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value Inventory $ 588,500 $ 549,000 Land 780,000 1,045,500 Buildings 1,755,000 2,056,500 Customer relationships 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 ) Revenues (448,000 ) Expenses 304,000 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 all of Westmonts common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $32,200 and Arturo pays $45,400 for legal fees to complete the transaction. Prepare Arturos 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.)1. record thenacquisition of westmont company. 2. record the legal fee related to the combination.3. record the payment of stock issuance costs.