Additional Problem 3 (Part Level Submission) On January 1, 2017, AMI Corporation purchased the non-cash net assets of Ivanhoe Ltd for $8,513,900. Following is the statement of financial position of Ivanhoe Ltd. from the company's year-end the previous day Ivanhoe Ltd. Cash Accounts receivable InventonY Property, plant, and equipment (net) Land 557,000 2,130,000 2,580,000 8,517,000 $337,000 Accounts payable Common shares Retained earnings $8,517,000 As part of the negotiations, AMI and Ivanhoe agreed on the following fair values for the items on Ivanhoe's statement of financial position Accounts receivwable Inventory Property, plant, and equipment 5555,300 2,360,000 1,950,000 3,780,000 229,400 Accounts payable Prepare the journal entry on the books of AMI Corporation to record the purchase of the net assets of Ivanhoe Ltd, assuming AMI paid cash for the net assets. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually