a$.$ Assume that this combination is a statutory merger so that On$-$the$-$Go's accounts will be transferred to the records of NewTune. Onthe$-$Go will be dissolved and will no longer exist as a legal entity. Prepare a postcombination balance sheet for NewTune as of the acquisition date.

b$.$ Assume that no dissolution takes place in connection with this combination. Rather, both companies retain their separate legal identities. Prepare a worksheet to consolidate the two companies as of the combination date.

On January $1,$ NewTune Company exchanges $17,098$ shares of its common stock for all of the outstanding shares of On$-$the$-$Go$,$ Inc. Each of NewTune's shares has a $$4$ par value and a $$50$ fair value. The fair value of the stock exchanged in the acquisition was considered equal to On$-$the$-$Go's fair value. NewTune also paid $$26,700$ in stock registration and issuance costs in connection with the merger.

Several of On$-$the$-$Go's accounts' fair values differ from their book values on this date $($credit balances in parentheses$)$:

$\backslash$table$[[,$Book ValuesFair Values$],[$Receivables$,$$$60,500,$$$5,800,],[$Trademarks$,119,750,318,500,],[$Record music catalog,$75,500,198,500,],[$In$-$process research and development,$0,213,000,],[$Notes payable,$(70,500),(62,650),]]$

Precombination book values for the two companies are as follows: