Tweeden Corporation is contemplating the acquisition of the net assets of Sylvester Corporation in anticipation of expanding its operations. The balance sheet of Sylvester Corporation on December 31, 2011, is as follows: Current Assets: Current Liabilities: Notes Receivable $24,000 Accounts Payable $45,000 Accounts Receivable $56,000 Payroll/Benefits-Current $12,500 Inventory $31,000 Debt Maturing in 1 year $10,000 Other current assets $18,000 Other Liabilities: Investments $65,000 Long-term Debt $248,000 Fixed Assets: Payroll/Benefits-Long Term $156,000 Land $32,000 Stockholders Equity: Building $245,000 Common Stock $100,000 Equipment $387,000 Paid-in capital in $250,000 Intangibles: excess of par Goodwill $45,000 Retained Earnings $114,000 Patents $23,000 Total L & E $936,000 Trade Names $10,000 Total Assets $936,000 An appraiser for Tweeden determined the fair values of Sylvesters assets and liabilities to as follows: Assets Liabilities Notes Receivable $24,000 Accounts Payable $45,000 Accounts Receivable $56,000 Payroll/Benefits-Current $12,500 Inventory $30,000 Debt Maturing in 1 year $10,000 Other current assets $15,000 Long-term Debt $248,000 Investments $63,000 Payroll/Benefits-LT $156,000 Land $55,000 Building $275,000 Equipment $426,000 Goodwill ---- Patents $20,000 Trade Names $15,000 The agreed upon purchase price is $580,000 in cash. Acquisition costs paid in cash total $20,000. Using the above information, do value analysis and prepare the entry on the books of Tweeden Corporation to acquire the net assets of Sylvester Corporation on December 31, 2011