Hey I'm looking through my professors lecture and I can't seem to find out how he calculated "fair value of net assets acquired."

To record Purchase of Net assets:

Cash - 40,000

Marketable investments - 66,000

Inventory - 110,000

Land - 72,000

Buildings - 288,000

Equipment - 145,000

Customer List - 125,000

Current Liabilities - 25,000

Bonds Payable - 100,000

Warrant Liability - 12,000

Common stock ($1 par, 25,000 shares issued)

Paid-In Capital In Excess of Par ($20 per share * 25000 shares less, 25,000 assigned to par) - 475,000

Fair Value of net assets Acquired should equate to (705,000)