The following book and fair values were available for Westmont Company as of March 1 Book Value Fair Value 998,250 842,250 Inventory Land Buildings Cuatomer relationships Accounts payable Common tock Additional paid-in capital Retained earnings 1/1 Revenues Expenses S367,500 318,000 756, 000 2,040,000 2,346,000 (88,000)(88,000) (2,000, 000) (500,000) (412,000) (446,000) 282, 500 Arturo Company pays $3,740,000 cash and issues 21.500 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 $31,700 and Arturo pays $46,100 for legal fees to complete the transaction. Prepare Arturo's journal entry to record ts acquisition of Westmont (If no entry is required for a transaction/event, select "No journa entry required" in the first account field.)