Smyth Company is acquired by Radar Corporation on July 1, 2011. Radar exchanges 60,000 shares of its $5 par stock, with a fair value of $20 per share, for the net assets of Smyth Company.
Radar incurs the following costs as a result of this transaction:
Acquisition costs ................. $25,000
Stock registration and issuance costs ......... 10,000
Total costs ................... $35,000
The balance sheet of Smyth Company, on the day of the acquisition, is as follows:

The appraised fair values as of July 1, 2011, is as follows:
Inventory .................. $250,000
Equipment ................. 220,000
Land.................... 180,000
Buildings .................. 300,000
Current liabilities .............. 80,000
Bonds payable ............... 410,000
Record the acquisition of Smyth Company on the books of Radar Corporation.

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Smyth Com Balance Sheet July 1, 2011 Assets Liabilities and Equity Cash Inyentory Property, plant, and equipment: $100,000 Current liabilities.. 300,000 Bonds payable 80,000 550,000 $ 630,000 Stockholders' equity: Common stock Land.... Buildings (ne Equipment (net)200,000 .$200,000 250,000 .$200,000 Paid-in capital in excess of par par00,000 120,000 650,000 Retained earnings. $1,050,000 Total liabilities and equity 420,000 $1,050,000 Total assets