$5-3$ On April $30.$ Year $6.$ Poweil Corporation issued $30\mathrm{.}000$ shares of its no$-$oar common stock with a stated value of $$5$ a share and a current fair value of $$20$ a share for $8\mathrm{.}000$ shares of Seaver Company s $$10$ par common stock. There was no contingent consideration: out$-$of$-$pocket costs of the business combination, paid by Seaver on behalf of Powell on April $30,$ Year $6,$ were as follows:

Finder's and legal fees relating to business combination $..........$ $$40\mathrm{.}000$

Costs associated with SEC registration statement $..............30\mathrm{.}000$

Total out$-$of$-$pocket costs of business combination $............$ $${70\mathrm{.}000}_{{?}_{?}}$

Balance sheets of the constituent companies on April $30,$ Year $6,$ prior to the business combination, are shown below:

POWELL CORPORATION AND SEAVER COMPANY

Separate Balance Sheets

April $30.$ Year $6$

$\backslash$table$[[$Assets$,\backslash$table$[[$Powell$],[$Corporation$]],\backslash$table$[[$Seaver$],[$Company$]]],[],[$Cash $.............................,$$$50,000,$$$150,000$